Market close is approaching. Therefore, now is the time to look to see which companies excelled today, and which companies suffered from the hand of Friday the 13th. There is one company, in particular, that has been inching higher all day and that’s Turtle Beach Corp (NASDAQ:HEAR).
What’s Going On with Turtle Beach Corp.?
Turtle Beach Corp. is still moving higher, even at 3:50 p.m. EDT. Currently, Turtle Beach Corp. is trading at $4.10, which puts the HEAR stock up $1.01, or 32.69%.
For those who don’t know, Turtle Beach Corp. is a leading provider of audio solutions across numerous platforms. It has created numerous games, including the oh-so-popular game Fortnite. The company is based in Elmsford, New York, and is led by CEO Juergen Stark.
So, what caused the more than 30% jump? Well, the New York-based south card and headset manufacturer has not announced anything today, therefore there is no direct reason for the jump. It’s more than likely, however, Friday’s jump is caused by the company’s preliminary Q1 results for 2018.
Turtle Beach Corp.’s Preliminary First Quarter Results
Earlier this week, on April 9, Turtle Beach Corp. posted its preliminary Q1 results for the year. After the results were published, the stock went soaring. It surpassed the 35% mark at one point during the session. It makes sense that the stock moved higher after the news, as the company’s preliminary Q1 earnings beat out the company’s original forecast.
On Monday, Turtle Beach stated that it forecasts to bring in Q1 revenue in between the range of $39.5 million and $40.5 million. Before, Turtle Beach Corp. was forecasting to bring in $29 million in Q1 revenue. According to Mr. Stark, the company’s growth is due to the release of a number of games, all of which have been a success.
The Turtle Beach Takeaway
It will be key to keep an eye on this company moving forward. Do you think these predictions will come true?
Featured Image: twitter
