GT Advanced Technologies Inc fka GTAT

[Lotto123]

GTAT -

GT Advanced Technologies
This Nashua, New Hampshire-based company saw short interest rise about 8 percent in the early weeks of the month to more than 55.85 million shares, or almost 41 percent of the float. That reclaimed most of the decline in the previous period. It would take more than three days to cover all short positions.

The company was expected to be a supplier for the iPhone 6, though now it looks like that may not be the case. GT Advanced Technologies has a market cap of near $1.6 billion. While the long-term earnings per share (EPS) growth forecast is more than 40 percent, the return on equity is in the red.

Of the 13 analysts surveyed, four of them still recommend buying shares, down from nine Buy ratings three months ago. The mean price target suggests plenty of potential upside, though the recent sell-off may get some of the credit for that. That consensus target is less than the 52-week high as well.

The share price plunged after Apple's latest iPhone launch, losing more than 33 percent during the settlement period. The share price is still up more than 27 percent year to date, but the stock has underperformed larger competitor Applied Materials and the broader markets over the past six months.

https://finance.yahoo.com/news/gt-advanced-technologies-bucks-short-120255413.html