Hutchinson Technology Inc. (HTCH) Sees Large Volume Increase
Hutchinson Technology Inc. (NASDAQ:HTCH) saw unusually-high trading volume on Wednesday . Approximately 894,172 shares traded hands during trading, an increase of 291% from the previous session’s volume of 228,706 shares.The stock last traded at $2.06 and had previously closed at $2.46.
Separately, Zacks Investment Research raised shares of Hutchinson Technology from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th.
The firm has a 50-day moving average of $3.42 and a 200-day moving average of $3.58. The company’s market capitalization is $69.19 million.
Hutchinson Technology (NASDAQ:HTCH) last announced its quarterly earnings results on Wednesday, April 27th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.03. The company had revenue of $54.16 million for the quarter, compared to analysts’ expectations of $56.25 million. During the same quarter in the prior year, the company earned ($0.28) EPS. Hutchinson Technology’s quarterly revenue was down 13.1% compared to the same quarter last year. Analysts forecast that Hutchinson Technology Inc. will post ($0.74) earnings per share for the current year.
Hutchinson Technology Incorporated is a global supplier of critical precision component technologies. The Company is engaged in manufacturing suspension assemblies for all sizes and types of hard disk drives. Suspension assemblies are components of disk drives that hold the read/write heads in position above the spinning magnetic disks.
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