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In a year marked by significant volatility, Parametric Sound Corp (NASDAQ:TBCH) stock has registered a new 52-week low, dipping to $12.09. With a beta of 2.05, the stock shows notably higher volatility than the broader market. According to InvestingPro analysis, TBCH appears undervalued at current levels. This latest price level reflects a stark contrast to the stock’s performance over the past year, with TBCH experiencing a substantial 1-year change, plummeting by -28.28%. Despite these challenges, the company has demonstrated strong fundamentals with impressive revenue growth of 44.41% over the last twelve months. Investors are closely monitoring the company’s movements as it navigates through the current economic headwinds that have pressured the stock to such lows. The market will be keenly observing TBCH’s strategies and potential recovery plans as it attempts to rebound from this challenging phase. For deeper insights into TBCH’s valuation and growth prospects, InvestingPro subscribers can access 8 additional ProTips and comprehensive financial analysis.
In other recent news, Turtle Beach Corporation reported fourth-quarter earnings that fell short of analyst expectations, with adjusted earnings per share at $0.95 compared to the anticipated $1.11. Revenue for the quarter was $146.1 million, below the projected $154.15 million, despite a 47% increase year-over-year. However, the company achieved record quarterly revenue and adjusted EBITDA, with net income rising to $20.1 million from $8.6 million in the prior year. For the full year 2024, Turtle Beach’s revenue increased by 44% to $372.8 million, and net income reached $16.2 million, a significant turnaround from a loss in 2023. Looking ahead, the company projects 2025 revenue between $395-$405 million and adjusted EBITDA of $68-$72 million, considering potential market headwinds.
In analyst coverage, Craig-Hallum initiated a Buy rating on Turtle Beach, setting a price target of $23.00. The firm highlighted the anticipated launch of Grand Theft Auto 6 as a potential catalyst for increased gaming hardware sales, which could benefit Turtle Beach. Craig-Hallum also pointed out the company’s strong market positioning, with leading shares in gaming headsets and controllers, and its unique Nintendo license as factors for potential growth. Additionally, Turtle Beach repurchased 1.8 million shares in 2024, demonstrating its commitment to returning capital to shareholders.
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