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GT Advanced Technologies (NASDAQ:GTAT) was downgraded by Raymond James from a “market perform” rating to an “underperform” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.

GT Advanced Technologies (NASDAQ:GTAT) opened at 18.57 on Thursday. GT Advanced Technologies has a 1-year low of $6.28 and a 1-year high of $20.54. The stock’s 50-day moving average is $15.86 and its 200-day moving average is $16.13. The company’s market cap is $2.554 billion. GT Advanced Technologies also was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 56,539,049 shares, a growth of 17.2% from the July 31st total of 48,236,023 shares. Based on an average trading volume of 9,042,061 shares, the days-to-cover ratio is presently 6.3 days. Currently, 41.6% of the company’s shares are sold short.

GT Advanced Technologies (NASDAQ:GTAT) last released its earnings data on Monday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.15 earnings per share. GT Advanced Technologies’s revenue was down 65.5% compared to the same quarter last year. Analysts expect that GT Advanced Technologies will post $0.11 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on GTAT. Analysts at Piper Jaffray initiated coverage on shares of GT Advanced Technologies in a research note on Monday. They set an “overweight” rating and a $23.00 price target on the stock. Separately, analysts at Credit Agricole downgraded shares of GT Advanced Technologies from an “outperform” rating to an “underperform” rating in a research note on Wednesday, August 20th. They now have a $19.00 price target on the stock, up previously from $18.00. Finally, analysts at Cowen and Company initiated coverage on shares of GT Advanced Technologies in a research note on Tuesday, August 12th. They set an “outperform” rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.68.

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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