Hutchinson Technology Inc (NASDAQ: HTCH), a computer hardware manufacturer, experienced an upward share price momentum after gaining more than 28% during each of the past two consecutive trading days with huge number of shares exchanging hands. In the last trading session, HTCH was the top performer in the U.S. technology sector having gained 28.1% breaking the long term 200 DMA (daily Moving Average) at $2.93. The stock ended yesterday at $3.69 while recording huge volumes of 5.03 million shares. During the past 5-trading sessions, the stock powered 77.8% higher with daily average trading volumes of 1.4 million shares, while the stock accumulated over 58% during the past one month recording significant daily average trading volumes of 518,338 shares. The stock is 15% up year-to-date. Recently, HTCH reported that for Q3’14, the company’s net losses narrowed $11.2 million or 40 cents per share from $15.86 million or 59 cents per share in the same quarter last year.
Company Description:
Hutchinson Technology Inc (NASDAQ: HTCH) manufactures and supplies suspension assemblies for hard disk drives. The company’s suspension assemblies hold recording heads in position above the spinning magnetic disks. Hutchinson Technology supplies its products to users of suspension assemblies around the world.
1-Year Stock Chart:
Source: Bloomberg
