GT Advanced Technologies Inc fka GTAT

[lecorb]

(HOLD)GT Advanced Technologies Receives Average Recommendation of “Hold” from Brokerages (OTC:GTATQ)

Posted by Nolan Pearson on Oct 23rd, 2014

GT Advanced Technologies (OTC:GTATQ) has been given an average recommendation of “Hold” by the twelve brokerages that are presently covering the stock, Stock Ratings Network.com reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $17.57.

GT Advanced Technologies (OTC:GTATQ) traded up 31.26% on Tuesday, hitting $0.692. The stock had a trading volume of 14,553,179 shares. GT Advanced Technologies has a 52-week low of $0.31 and a 52-week high of $20.54. The stock’s 50-day moving average is $8.35 and its 200-day moving average is $14.28. The company’s market cap is $95.2 million. GT Advanced Technologies also saw a large increase in short interest in September. As of September 30th, there was short interest totalling 61,167,834 shares, an increase of 10.0% from the September 15th total of 55,585,174 shares. Approximately 44.9% of the company’s stock are short sold. Based on an average daily volume of 11,319,827 shares, the short-interest ratio is currently 5.4 days.

GT Advanced Technologies (OTC:GTATQ) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was down 65.5% on a year-over-year basis. Analysts expect that GT Advanced Technologies will post $-0.74 EPS for the current fiscal year.

A number of analysts have recently weighed in on GTATQ shares. Analysts at Dougherty & Co downgraded shares of GT Advanced Technologies from a “buy” rating to a “sell” rating in a research note on Wednesday, September 10th. Separately, analysts at Piper Jaffray downgraded shares of GT Advanced Technologies from an “overweight” rating to a “neutral” rating in a research note on Wednesday, September 10th. They now have a $16.00 price target on the stock. Finally, analysts at Goldman Sachs downgraded shares of GT Advanced Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 10th. They now have a $14.00 price target on the stock, down previously from $20.00.

GT Advanced Technologies Inc is diversified technology company with crystal growth equipment and solutions for the global solar, light emitting diode (OTC:GTATQ) and electronics industries.

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