AAC Technologies (OTCMKTS:AACAY) Shares Gap Up - Time to Buy?

Key Points

• Gapped up: AAC Technologies' stock opened at $4.82 on Wednesday after closing at $4.16, with last trade at $4.82 on very light volume of 353 shares.
• Jefferies cut the rating from "strong-buy" to "hold" on March 20, and the MarketBeat consensus rating for the stock is currently "Hold."
• The company has a market capitalization of $5.32 billion, a high trailing P/E of 144.33 and a beta of 1.36, with 50‑day and 200‑day simple moving averages at $4.43 and $4.87 respectively.

AAC Technologies Holdings Inc. (OTCMKTS:AACAY - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.16, but opened at $4.82. AAC Technologies shares last traded at $4.82, with a volume of 353 shares trading hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut AAC Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, March 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

AAC Technologies Price Performance

The firm has a 50-day simple moving average of $4.43 and a 200 day simple moving average of $4.87. The company has a market capitalization of $5.32 billion, a PE ratio of 144.33 and a beta of 1.36.

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.

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