AAC Technologies (OTCMKTS:AACAY) Shares Gap Up – Here’s Why

AAC Technologies Holdings Inc. (OTCMKTS:AACAY) gapped up before the market opened on Tuesday . The stock had previously closed at $5.3899, but opened at $5.59. AAC Technologies shares last traded at $5.59, with a volume of 490 shares.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group downgraded AAC Technologies from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

AAC Technologies Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 1.49. The business’s 50 day moving average is $5.16 and its 200 day moving average is $5.01.

AAC Technologies Company Profile

AAC Technologies is a leading designer and manufacturer of miniaturized acoustic components and haptic solutions for the global consumer electronics industry. The company’s product portfolio includes micro speakers, receivers, microphones based on micro-electromechanical systems (MEMS), vibration motors and linear resonant actuators, as well as precision camera modules and related optical components. These technologies are widely used in smartphones, tablets, laptops, wearable devices, automotive infotainment systems and Internet-of-Things applications.

Founded in 1993 and headquartered in Shenzhen, China, AAC Technologies has grown into a key supplier for many of the world’s top original equipment manufacturers.