Soitec SA (OTCMKTS:SLOIY) Sees Significant Increase in Short Interest

Soitec SA (OTCMKTS:SLOIY) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 2,510 shares, a growth of 94.3% from the August 15th total of 1,292 shares. Based on an average trading volume of 4,884 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

SLOIY has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Soitec from a “hold” rating to an “underperform” rating in a report on Wednesday, June 10th. UBS Group lowered Soitec from a “neutral” rating to a “sell” rating in a research report on Monday, June 15th. Oddo Bhf upgraded Soitec from a “neutral” rating to an “outperform” rating in a report on Thursday, September 3rd. Finally, Citigroup reiterated a “sell” rating on shares of Soitec in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Soitec presently has an average rating of “Hold”.

Soitec Price Performance

Shares of OTCMKTS SLOIY traded up $2.80 during midday trading on Thursday, hitting $80.28. 2,223 shares of the company traded hands, compared to its average volume of 7,538. The stock has a 50-day moving average price of $66.30 and a 200 day moving average price of $62.04. Soitec has a 12-month low of $13.13 and a 12-month high of $114.37.

Soitec Company Profile

Soitec is a France-based technology company specializing in the design and manufacture of advanced semiconductor materials. The company pioneered Smart Cut™ technology, which enables the production of Silicon-On-Insulator (SOI) wafers and other engineered substrates with superior electrical and thermal properties. Founded in 1992 as a spin-off from the French Atomic Energy Commission (CEA), Soitec has grown into a leading supplier of high-performance materials for the global electronics industry.

Soitec’s product portfolio includes RF-SOI substrates for 5G and mobile communications, Power-SOI for energy-efficient power management, and FD-SOI for ultra-low-power applications in IoT and automotive markets.