Hutchinson Technology Inc. (HTCH) Short Interest Up 30.0% in September
Hutchinson Technology Inc. (NASDAQ:HTCH) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,528,357 shares, a growth of 30.0% from the September 15th total of 1,175,948 shares. Based on an average daily volume of 1,843,917 shares, the short-interest ratio is currently 0.8 days.
Hutchinson Technology (NASDAQ:HTCH) opened at 4.00 on Friday. The stock’s market capitalization is $135.69 million. The company’s 50-day moving average is $2.68 and its 200-day moving average is $3.03. Hutchinson Technology has a 12 month low of $1.32 and a 12 month high of $4.00.
Hutchinson Technology (NASDAQ:HTCH) last released its earnings results on Friday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. Hutchinson Technology had a negative net margin of 13.26% and a negative return on equity of 37.76%. The company had revenue of $53.20 million for the quarter, compared to the consensus estimate of $54.65 million. During the same period in the prior year, the company posted ($0.26) EPS. The company’s revenue was down 17.8% compared to the same quarter last year. Equities analysts anticipate that Hutchinson Technology will post ($0.71) earnings per share for the current year.
Separately, Zacks Investment Research raised shares of Hutchinson Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC increased its position in Hutchinson Technology by 73.2% in the first quarter. Spark Investment Management LLC now owns 36,200 shares of the company’s stock worth $132,000 after buying an additional 15,300 shares during the last quarter. BlackRock Fund Advisors increased its position in Hutchinson Technology by 8.8% in the second quarter. BlackRock Fund Advisors now owns 86,106 shares of the company’s stock worth $292,000 after buying an additional 6,987 shares during the last quarter. BOKF NA increased its position in Hutchinson Technology by 9.3% in the second quarter. BOKF NA now owns 102,558 shares of the company’s stock worth $348,000 after buying an additional 8,725 shares during the last quarter. Algert Global LLC acquired a new position in Hutchinson Technology during the third quarter worth about $396,000. Finally, Ameriprise Financial Inc. increased its position in Hutchinson Technology by 112.6% in the second quarter. Ameriprise Financial Inc. now owns 142,700 shares of the company’s stock worth $484,000 after buying an additional 75,585 shares during the last quarter. Institutional investors own 31.60% of the company’s stock.
Hutchinson Technology Company Profile
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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