GT Advanced Technologies Sees Large Growth in Short Interest (GTAT)
GT Advanced Technologies (NASDAQ:GTAT) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 43,013,791 shares, an increase of 8.0% from the April 30th total of 39,815,103 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 9,680,148 shares, the short-interest ratio is currently 4.4 days. Approximately 31.9% of the shares of the company are short sold.
In other GT Advanced Technologies news, Insider Fmr Llc sold 464,771 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $15.98, for a total transaction of $7,427,040.58. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of GT Advanced Technologies in a research note on Wednesday, May 28th. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at Zacks downgraded shares of GT Advanced Technologies from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 27th. They now have a $17.10 price target on the stock. Finally, analysts at Dougherty & Co initiated coverage on shares of GT Advanced Technologies in a research note on Tuesday, May 13th. They set a “buy” rating and a $29.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.56.
GT Advanced Technologies (NASDAQ:GTAT) opened at 16.86 on Monday. GT Advanced Technologies has a 1-year low of $3.44 and a 1-year high of $19.44. The stock has a 50-day moving average of $15.64 and a 200-day moving average of $12.8. The company’s market cap is $2.300 billion.
GT Advanced Technologies (NASDAQ:GTAT) last released its earnings data on Wednesday, May 7th. The company reported ($0.22) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.07) earnings per share. GT Advanced Technologies’s revenue was down 61.1% compared to the same quarter last year. On average, analysts predict that GT Advanced Technologies will post $0.09 earnings per share for the current fiscal year.
GT Advanced Technologies Inc is diversified technology company with crystal growth equipment and solutions for the global solar, light emitting diode (NASDAQ:GTAT) and electronics industries.
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