Turtle Beach Corporation (NASDAQ:HEAR) changed 11.99% to recent value of $11.49. The stock transacted 1572800 shares during most recent day however it has an average volume of 423.29K shares. It spotted trading -8.08% off 52-week high price. On the other end, the stock has been noted 183.70% away from the low price over the last 52-weeks.

On May 07, 2020, Turtle Beach Corporation (NASDAQ:HEAR) a leading gaming audio and accessory brand, released financial results for the first quarter ended March 31, 2020.

First Quarter Summary vs. Year-Ago Quarter:

  • Net revenue was $35.0 million ($35.1 million in constant currency) versus $44.8 million;
  • Net loss of $3.6 million, or $(0.25) per diluted share, compared to net income of $3.1 million, or $0.09 per diluted share; and
  • Adjusted EBITDA was $(2.7) million compared to $4.3 million.

Management Commentary

During the first quarter, as consumers around the world stayed home to help contain COVID-19,  we saw strong demand for our products including record-setting retail sales and significant market share gains in March, which drove results that exceeded our expectations across all key financial metrics, said Juergen Stark, CEO, Turtle Beach. Our headsets are also well-suited for learning and working remotely via video or audio conferencing, which we believe further increased demand. While we expect the increased demand for headsets may subside once stay-at-home measures are relaxed, we believe our sales for the year will exceed our prior forecast.

HEAR has a gross margin of 33.50% and an operating margin of 4.60% while its profit margin remained 7.60% for the last 12 months. Its earnings per share (EPS) expected to touch remained -58.30% for this year while earning per share for the next 5-years is expected to reach at 18.00%.

The company has 15.24M of outstanding shares and 12.92M shares were floated in the market. According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 34.62% from the mean of 20 days, 69.29% from mean of 50 days SMA and performed 31.70% from mean of 200 days price. Company’s performance for the week was 16.89%, 91.82% for month and YTD performance remained 21.59%.