Hutchinson Technology Hits New 12-Month High at $4.85 (HTCH)
Hutchinson Technology (NASDAQ:HTCH) reached a new 52-week high during mid-day trading on Friday , American Banking & Market News reports. The stock traded as high as $4.85 and last traded at $4.59, with a volume of 339,946 shares. The stock had previously closed at $4.70.
Separately, analysts at Craig Hallum upgraded shares of Hutchinson Technology from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $5.50 price target on the stock, up previously from $3.50.
The stock has a 50-day moving average of $3.10 and a 200-day moving average of $2.80. The company’s market cap is $124.9 million. Hutchinson Technology also saw a large increase in short interest in August. As of August 15th, there was short interest totalling 1,248,429 shares, an increase of 39.1% from the July 31st total of 897,318 shares. Based on an average daily trading volume, of 1,324,246 shares, the days-to-cover ratio is presently 0.9 days. Currently, 4.8% of the company’s stock are short sold.
Hutchinson Technology (NASDAQ:HTCH) last posted its quarterly earnings results on Friday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.34) by $0.02. The company had revenue of $59.80 million for the quarter, compared to the consensus estimate of $60.32 million. During the same quarter last year, the company posted ($0.41) earnings per share. Hutchinson Technology’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that Hutchinson Technology will post $-1.08 EPS for the current fiscal year.
Hutchinson Technology Incorporated (NASDAQ:HTCH) is a global technology company engaged in developing solutions to customer problems.
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