Hutchinson Technology Inc. (HTCH) Trading Down 6.2%
Hutchinson Technology Inc. (NASDAQ:HTCH) shares fell 6.2% on Tuesday . The company traded as low as $3.03 and last traded at $3.03, with a volume of 305,852 shares changing hands. The stock had previously closed at $3.23.
Separately, Zacks Investment Research lowered Hutchinson Technology from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd.
The firm’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.60. The company’s market cap is $83.43 million.
Hutchinson Technology (NASDAQ:HTCH) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.03. During the same period in the prior year, the business posted ($0.28) EPS. The business had revenue of $54.16 million for the quarter, compared to analyst estimates of $56.25 million. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. Equities research analysts forecast that Hutchinson Technology Inc. will post ($0.74) EPS for the current fiscal 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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