GT Advanced (NASDAQ:GTAT) Profit Climbs but Misses Estimates – GTAT, RBCN, WFR, HOKU
The Merrimack, New Hampshire-based GT Advanced Technologies Inc (NASDAQ:GTAT) announced a profit lower than analysts’ forecasts for the first time in 10 quarters, damaged by a worldwide decelerate in the photovoltaic equipment unit.
U.S. solar and LED equipment manufacturer reported that profit in the fourth-quarter moved up to $79.1 million or 65 cents a share, from $51.9 million or 41 cents a share in the similar quarter previous year.
GT Advanced Technologies made 69 cents a share in earnings without special costs. The company reported that revenue surged 30% to $353.9 million. On average, Thomson Reuters analysts had anticipated a profit of 71 cents a share on $393.5 million of revenue.
Rubicon Technology, Inc. (NASDAQ:RBCN) fell -1.57% to settle at $9.40, MEMC Electronic Materials, Inc. (NYSE:WFR) moved down -7.79% to end at $2.13 while Hoku Corporation (NASDAQ:HOKU) advanced +3.61% to finish on Wednesday at $0.290.
GT Advanced Technologies Inc. (NASDAQ:GTAT) began the last trading session with a price of $5.29 and throughout the session climbed at a high of $5.47 but when day-trade ended the stock finally advanced + 0.57% to $5.32.
GTAT had a trade volume of 5.44 million shares was higher as compared to average trading capacity of 3.01 million shares.
The stock is ahead its 52 week low with 0.95% and lagging behind from its 52 week high price with -69.60%. GTAT last month stock price volatility remained 4.45%. In its share capital GTAT has 118.30 million outstanding shares among them 117.72 million shares have been floated in market exchange. GTAT stock insider ownership included 0.36%.
Shares price of GTAT moved down from its 20 days moving average with -18.47% and remote negatively from 50 days moving average with -27.65%. GTAT current year earnings per share experienced an addition with +106.66% while its current quarter performance remained -40.43%. Company’s beta coefficient included 1.55. Beta factors measures the amount of market risk associated with market trade.