Stock News Summary: Turtle Beach Corporation (NASDAQ: HEAR)

Business News

On 05 Nov 2019, Turtle Beach Corporation (NASDAQ: HEAR) witnessed a loss of -3.60% in recent trading period with closing price of $10.71. The company’s last traded volume of 287132 shares vs to an average volume of 581.64K shares. The stock’s price lost at -5.57% from 20-Days Simple Moving Average, surged at 1.86% from 50-Days Simple Moving Average and settled at -6.85% from 200 Days Simple Moving Average.  In the trailing 12 months period, return on assets ratio of the Company was 29.90% and return on equity ratio was 89.80% while its return on investment ratio was 69.80%.

Turtle Beach Corporation (HEAR) recently reported that Ronald Doornink, who has served as the chairman of the Company’s board of directors since 2010, has decided to step down as chairman and to retire from the board at the end of 2019.

The board has unanimously designated current CEO and board member Juergen Stark to succeed Doornink as chairman effective January 1, 2020. Mr. Stark has been the Company’s CEO and a member of the board since 2014, and will continue as CEO. In addition, the board unanimously designated Director Bill Keitel as lead independent director.

“For the last nine years, I have been privileged to work with a company that has set the standard of excellence for gaming headsets,” commented Mr. Doornink. “Our employees’ commitment and passion for this industry has enabled Turtle Beach to be the market leader for ten years running. I am proud to have been a part of what Turtle Beach has completed, and I wish everyone associated with this great company all the best for continued success in the years to come.”

Turtle Beach Corporation has PEG ratio of 0.29 and price to cash ratio of 45.05. The stock as of last trading session moved at 29.82% from its 52 week low and was trading at -51.07% to its 52 week high.  Beta factor, which measures the riskiness of the security, was registered at 1.52. In the profitability analysis, net profit margin of the firm was recorded at 11.70% and operating profit margin was calculated at 15.20% while gross profit margin was measured as 37.30%.