Camtek Ltd. (CAMT) Sees Unusually-High Trading Volume
Camtek Ltd. (NASDAQ:CAMT) saw unusually-strong trading volume on Tuesday . Approximately 232,288 shares changed hands during mid-day trading, an increase of 330% from the previous session’s volume of 54,069 shares.The stock last traded at $2.70 and had previously closed at $2.70.
A number of research analysts recently issued reports on CAMT shares. B. Riley reiterated a “buy” rating and issued a $3.25 target price on shares of Camtek in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Camtek from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Tuesday, July 26th. Needham & Company LLC raised their price target on Camtek from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Friday, July 22nd. Finally, TheStreet upgraded Camtek from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Camtek currently has a consensus rating of “Buy” and an average price target of $3.42.
The firm’s market cap is $97.56 million. The firm’s 50 day moving average price is $2.54 and its 200-day moving average price is $2.22.
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Camtek (NASDAQ:CAMT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The company earned $27.30 million during the quarter, compared to the consensus estimate of $26.05 million. Camtek had a positive return on equity of 7.58% and a negative net margin of 9.15%. On average, equities analysts predict that Camtek Ltd. will post $0.17 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Menta Capital LLC increased its stake in Camtek by 24.6% in the first quarter. Menta Capital LLC now owns 69,971 shares of the company’s stock worth $139,000 after buying an additional 13,828 shares during the last quarter. Algert Global LLC increased its stake in Camtek by 13.3% in the first quarter. Algert Global LLC now owns 90,470 shares of the company’s stock worth $179,000 after buying an additional 10,655 shares during the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in Camtek during the second quarter worth approximately $360,000. Kennedy Capital Management Inc. increased its stake in Camtek by 1.0% in the first quarter. Kennedy Capital Management Inc. now owns 375,043 shares of the company’s stock worth $743,000 after buying an additional 3,761 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Camtek by 8.3% in the first quarter. Renaissance Technologies LLC now owns 663,200 shares of the company’s stock worth $1,313,000 after buying an additional 50,600 shares during the last quarter. Institutional investors own 13.72% of the company’s stock.
Camtek Ltd. provides automated and technological solutions for production processes and products yield, enabling and supporting customers’ technologies in the semiconductor fabrication and printed circuit board (PCB) industries. The Company designs, develops, manufactures and markets products mainly based on two core technologies: automated optical inspection (AOI) and functional ink technology (FIT).
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