Turtle Beach Unveils New Gaming Accessories – MarketBeat
Turtle Beach Corporation (NASDAQ:HEAR) is a global gaming accessory manufacturer. HEAR produces gaming headsets for Xbox One, PlayStation 4, PC, Nintendo Switch, and mobile devices. Turtle Beach’s ROCCAT brand also designs PC gaming products, including keyboards, mice, headsets, mousepads, and other PC accessories. At last glance, HEAR is trading down 7.1% at $17.94.
On March 9, Turtle Beach Corporation’s brands, Turtle Beach and ROCCAT, unveiled their all-new Scout Air and SYN Buds Air true wireless gaming earbuds. HEAR will launch both versions at retailers worldwide on March 21.
Turtle Beach stock has decreased about 28% year-over-year and HEAR is currently trading down a significant 50% since peaking at a more than six-year high of $38.70 last June. Additionally, shares of HEAR have dropped in price 17% year-to-date, but Turtle Beach stock is currently up 13% off of its 52-week low of $17.03 reached just earlier this month.
Moreover, Turtle Beach stock offers a fair valuation with HEAR trading at a forward price-earnings ratio of 17.83 and a price-sales ratio of 1.12. The gaming accessories name also holds $37.72 million in cash and $7.76 million in total debt on their balance sheet, which is excellent for a small cap company valued at $312 million.
Analysts are looking optimistic toward this security, which could leave room for downgrades moving forward. Heading into today’s trading, four of the five covering brokerages carried a “strong buy” recommendation on HEAR.
However, shorts have been piling on, with short interest up 13.1% during the past two reporting periods. This accounts for 10.5% of the stock’s total available float, or nearly four days’ worth of pent-up buying power.
7 Mid-Cap Stocks to Buy For When the Fed Gets Serious
How should you be investing in 2022? It’s a near certainty that the Fed will continue to pursue a more hawkish monetary policy for the rest of 2022. And right now the market is expecting interest rate increases to start in March 2022.
The thought that the Fed will take aggressive measures to combat inflation is still weighing on growth-minded investors? After all, stocks still look like the place to be.
If you’re an investor looking to maximize your growth this year, you should first make sure you have a base of blue-chip stocks. These stocks can deliver solid returns no matter how the broader market goes. However, after that, you should still have your eyes on growth. And mid-cap stocks may be just the place to look.
Mid-cap stocks are defined by companies with a market capitalization between $2 billion and $10 billion. These companies are still in the growth phase so they’re putting their profits to work in growing their business.
The recent market sell-off has put many of these stocks at attractive points. And while many of them still don’t qualify as oversold by technical measures, they are offering significant upside at their current price points.
At some point the Fed is likely to get serious about whipping inflation. When it does, investors will become even more selective than they already are. By investing in these mid-cap stocks, you can stay one step ahead of whatever comes next.
View the “7 Mid-Cap Stocks to Buy For When the Fed Gets Serious”.