Soitec (OTCMKTS:SLOIF) Shares Gap Down - Here's Why

Key Points

• Soitec SA shares experienced a significant drop, opening at $37.51 after closing at $42.18, marking an 11.1% decline.
• Citigroup downgraded the stock from a "hold" rating to a "strong sell," contributing to the negative outlook, with the average rating for Soitec currently being "sell."
• The company's financials indicate a debt-to-equity ratio of 0.24, alongside a quick ratio of 1.72 and a current ratio of 2.03, reflecting its liquidity position.

Soitec SA (OTCMKTS:SLOIF - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $42.18, but opened at $37.51. Soitec shares last traded at $37.51, with a volume of 50 shares changing hands.

Wall Street Analyst Weigh In

Separately, Citigroup cut Soitec from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell".

Soitec Price Performance

The business's 50 day moving average price is $48.10 and its 200-day moving average price is $52.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.72 and a current ratio of 2.03.

About Soitec

Soitec SA designs and manufactures semiconductor materials worldwide. Its products are used to manufacture chips that are used in smart phones, tablets, computers, IT servers, and data centers, as well as electronic components in cars, connected devices, and industrial and medical equipment. It provides CONNECT Radio Frequency Silicon-on-Insulator (RF-SOI) for smartphone front-end modules; CONNECT Piezoelectric-on-Insulator RF filters for smartphone; and CONNECT RF gallium nitride for 5g infrastructure base stations and smartphones, as well as CONNECT Fully Depleted Silicon-On-Insulator (FD-SOI).