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

Key Points

• Soitec's stock price gapped up significantly, opening at $43.16 from a previous close of $38.75, with recent trading volume at 100 shares.
• Citigroup downgraded Soitec's stock from a "hold" rating to a "strong sell" rating, contributing to a consensus rating of "sell" among analysts.
• Soitec SA specializes in designing and manufacturing semiconductor materials used in various devices, including smartphones and electronic components in cars and medical equipment.

Soitec SA (OTCMKTS:SLOIF - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $38.75, but opened at $43.16. Soitec shares last traded at $43.16, with a volume of 100 shares.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Soitec from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Soitec has a consensus rating of "Sell".

Soitec Trading Up 11.4%

The stock's 50-day simple moving average is $44.21 and its 200 day simple moving average is $50.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.03 and a quick ratio of 1.72.

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).

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