GT Advanced Technologies Short Interest Up 4.0% in July (GTAT)
GT Advanced Technologies (NASDAQ:GTAT) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 48,236,023 shares, a growth of 4.0% from the July 15th total of 46,384,897 shares, American Banking News reports. Currently, 35.6% of the shares of the company are short sold. Based on an average daily trading volume, of 9,105,905 shares, the short-interest ratio is currently 5.3 days.
In other GT Advanced Technologies news, COO Daniel Squiller sold 5,000 shares of GT Advanced Technologies stock on the open market in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $14.00, for a total value of $70,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on GTAT shares. Analysts at Canaccord Genuity downgraded shares of GT Advanced Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 7th. They now have a $20.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $19.83.
GT Advanced Technologies (NASDAQ:GTAT) traded up 5.29% on Monday, hitting $16.31. The stock had a trading volume of 8,257,475 shares. GT Advanced Technologies has a one year low of $5.25 and a one year high of $20.54. The stock has a 50-day moving average of $16.07 and a 200-day moving average of $15.34. The company’s market cap is $2.240 billion.
GT Advanced Technologies (NASDAQ:GTAT) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.02. The company had revenue of $58.00 million for the quarter, compared to the consensus estimate of $63.94 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 65.5% on a year-over-year basis. On average, analysts predict that GT Advanced Technologies will post $0.02 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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