According to Zacks, “LRAD Corporation, formerly known as American Technology Corporation, is a provider of commercial, government, and military directed acoustics products. Its product lines include The Long Range Acoustic Device (LRAD®), NeoPlanar® and SoundSaber and HyperSonic Sound® (HSS®). The LRAD® is a high-intensity directional acoustic array designed for long-range communication and unmistakable warning. NeoPlanar® and SoundSaber products put out an intelligible column of sound and are used in outdoor and in-building mass communication systems. The HSS® technology uses ultrasonic energy to focus one’s sound to one’s intended listener and nowhere else. Its LRAD® directional sound systems are being used in applications including, fixed and mobile military deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, and wildlife preservation and control. The Company is based in San Diego, California. “
A number of other research firms also recently commented on LRAD. TheStreet downgraded LRAD from a b- rating to a c rating in a research note on Wednesday, September 4th. UBS Group initiated coverage on shares of LRAD in a research report on Tuesday, July 2nd. They set an outperform rating and a $5.00 price objective for the company. Oppenheimer started coverage on shares of LRAD in a research note on Tuesday, July 2nd. They set an outperform rating and a $5.00 price objective on the stock. Finally, CIBC started coverage on shares of LRAD in a report on Tuesday, July 2nd. They issued an outperform rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $5.00.
LRAD stock opened at $3.17 on Friday. The stock’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $3.30. LRAD has a one year low of $2.08 and a one year high of $4.24. The firm has a market cap of $102.66 million, a PE ratio of -52.83 and a beta of 0.36.
LRAD (NASDAQ:LRAD) last released its earnings results on Monday, August 12th. The scientific and technical instruments company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $8.86 million for the quarter, compared to the consensus estimate of $11.10 million. LRAD had a net margin of 1.29% and a return on equity of 1.25%. On average, equities analysts expect that LRAD will post 0.06 earnings per share for the current year.
In other LRAD news, major shareholder Awm Investment Company, Inc. sold 100,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $4.02, for a total value of $402,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott L. Anchin sold 25,000 shares of LRAD stock in a transaction on Monday, September 9th. The shares were sold at an average price of $3.13, for a total value of $78,250.00. Following the completion of the transaction, the director now owns 56,005 shares in the company, valued at approximately $175,295.65. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Pointe Capital Management LLC bought a new position in LRAD in the second quarter valued at about $33,000. Marshall Wace LLP bought a new position in LRAD in the 1st quarter valued at approximately $35,000. WealthTrust Axiom LLC lifted its stake in LRAD by 53.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 15,300 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 5,300 shares during the last quarter. Wells Fargo & Company MN lifted its stake in LRAD by 306.9% in the 2nd quarter. Wells Fargo & Company MN now owns 28,485 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 21,485 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. acquired a new stake in LRAD in the second quarter valued at approximately $112,000. 49.62% of the stock is owned by institutional investors.
LRAD Company Profile
LRAD Corporation designs, develops, and commercializes directed sound technologies and products in North and South America, Europe, the Middle East, Africa, and Asia. It develops directed acoustic communication systems that focus sound over short and long distances. The company offers directional and omnidirectional acoustic systems and accessories.
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