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Analysts at Cowen and Company began coverage on shares of GT Advanced Technologies (NASDAQ:GTAT) in a research report issued to clients and investors on Tuesday, reports. The firm set an “outperform” rating on the stock.

In other GT Advanced Technologies news, VP Jeffrey John Ford sold 30,492 shares of GT Advanced Technologies stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $15.30, for a total transaction of $466,527.60. The transaction was disclosed in a document filed with the SEC, which is available at this link.

GT Advanced Technologies (NASDAQ:GTAT) traded down 0.49% on Tuesday, hitting $16.23. The stock had a trading volume of 4,814,634 shares. GT Advanced Technologies has a 52 week low of $5.52 and a 52 week high of $20.54. The stock’s 50-day moving average is $16.01 and its 200-day moving average is $15.48. The company’s market cap is $2.232 billion. GT Advanced Technologies also saw a large growth in short interest in 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. Based on an average trading volume of 9,105,905 shares, the short-interest ratio is presently 5.3 days. Currently, 35.6% of the company’s stock are sold short.

GT Advanced Technologies (NASDAQ:GTAT) last announced its earnings results on Monday, August 4th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was down 65.5% on a year-over-year basis. On average, analysts predict that GT Advanced Technologies will post $0.11 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. 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. 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.83.

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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