Hutchinson Technology Incorporated (HTCH) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the technology sector during morning trading on September 22. At the lunch break, shares of HTCH have risen 167.11% to $3.98 after closing the day prior at $1.49. In the first two and a half hours of trading, the stock has gone as high as $3.98 and as low as $3.96. Today’s rise has come with about 11.16 million shares changing hands, compared to an average 30-day volume of 147,795 for Hutchinson Technology Incorporated. The price is currently below the 30-day volume weighted average price of $3.97 for HTCH.
The share appreciation gives the company a market capitalization of $50.54 million based upon 33.92 million shares outstanding. It also means that HTCH has a price-to-book ratio of 0.99:1.
In the past 52 weeks, shares of HTCH have traded as low as $1.32 and as high as $3.89. Technical traders will take note that at $3.98, shares of HTCH are trading above their 200-day MA at $3.18 and above their 50-day MA at $1.88. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is HTCH?
Hutchinson Technology Inc is engaged in the manufacture of suspension assemblies. It supplies critical precision component technologies to the market. The company’s 2412 employees are led by CEO Richard J. Penn from the corporate headquarters at 40 West Highland Park Drive North East in Hutchinson, MN.
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