Soitec (OTCMKTS:SLOIF) Shares Gap Up - Still a Buy?

Key Points

• Soitec's stock price gapped up from $46.15 to $51.00 before the market opened, with very low trading volume reported.
• Citigroup has downgraded Soitec from a "hold" rating to a "strong sell" rating, contributing to an average stock rating of "Sell" from analysts.
• The company designs semiconductor materials used in various electronic devices, with a current ratio of 2.03 indicating strong short-term financial health.

Soitec SA (OTCMKTS:SLOIF - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $46.15, but opened at $51.00. Soitec shares last traded at $51.00, with a volume of 1 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered Soitec from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".

Soitec Price Performance

The firm has a 50 day moving average price of $42.99 and a 200-day moving average price of $48.71. The company has a quick ratio of 1.72, a current ratio of 2.03 and a debt-to-equity ratio of 0.24.

Soitec Company Profile

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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