Short Interest in Hutchinson Technology Expands By 39.1% (HTCH)
Hutchinson Technology (NASDAQ:HTCH) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 1,248,429 shares, a growth of 39.1% from the July 31st total of 897,318 shares, Analyst Ratings Network reports. Currently, 4.8% of the company’s stock are sold short. Based on an average daily volume of 1,324,246 shares, the days-to-cover ratio is currently 0.9 days.
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.
Hutchinson Technology (NASDAQ:HTCH) opened at 4.59 on Wednesday. Hutchinson Technology has a one year low of $1.96 and a one year high of $4.85. The stock has a 50-day moving average of $3.29 and a 200-day moving average of $2.80. The company’s market cap is $128.8 million.
Hutchinson Technology (NASDAQ:HTCH) last issued its quarterly earnings data on Friday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.41) earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts predict that Hutchinson Technology will post $-1.08 earnings per share 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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