GT Advanced Technologies Sees Large Increase in Short Interest (GTAT)
Shares of GT Advanced Technologies (NASDAQ:GTAT) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 39,815,103 shares, a growth of 5.2% from the April 15th total of 37,863,945 shares, StockRatingsNetwork reports. Currently, 29.5% of the company’s stock are sold short. Based on an average daily volume of 6,674,763 shares, the days-to-cover ratio is currently 6.0 days.
In other GT Advanced Technologies news, VP Jeffrey John Ford sold 55,430 shares of GT Advanced Technologies stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $13.35, for a total transaction of $739,990.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on GTAT shares. Analysts at Dougherty & Co initiated coverage on shares of GT Advanced Technologies in a research note on Tuesday. They set a “buy” rating and a $29.00 price target on the stock. Separately, analysts at Goldman Sachs cut their price target on shares of GT Advanced Technologies from $24.00 to $22.00 in a research note on Friday, May 9th. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of GT Advanced Technologies in a research note on Friday, May 9th. They now have a $20.00 price target on the stock, down previously from $21.00. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. GT Advanced Technologies has a consensus rating of “Buy” and an average price target of $19.80.
Shares of GT Advanced Technologies (NASDAQ:GTAT) opened at 14.28 on Wednesday. GT Advanced Technologies has a 52-week low of $3.44 and a 52-week high of $19.44. The stock has a 50-day moving average of $16.34 and a 200-day moving average of $12.34. The company’s market cap is $1.945 billion.
GT Advanced Technologies (NASDAQ:GTAT) last released its earnings data on Wednesday, May 7th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.21) by $0.01. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $26.94 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was down 61.1% on a year-over-year basis. Analysts expect that GT Advanced Technologies will post $0.08 EPS for the current fiscal year.
GT Advanced Technologies Inc (NASDAQ:GTAT) is diversified technology company with crystal growth equipment and solutions for the global solar, light emitting diode (LED) and electronics industries.
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