Why GT Advanced Technologies (GTAT) Stock Continues To Decline Today

NEW YORK (TheStreet) -- Shares of GT Advanced Technologies Inc. (GTAT) are tanking -13.02% to $17 in early afternoon trading today, continuing a decline the stock started in pre-market trading following a ratings downgrade to "neutral" from "buy" at UBS (UBS).

The firm lowered its rating on the solar and LED equipment company based on its belief GT Advanced will not meet the high end of its $600 million to $800 million 2014 second quarter sales guidance.

UBS maintained its $22 price target on the stock, but lowered its 2014 EPS on GT to 12 cents from 17 cents.

Must Read: Warren Buffett's 25 Favorite Stocks

GTAT Chart GTAT data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Dow Skids and Stocks Fall Hard as Earnings Disappoint, Caterpillar Tumbles

Dow Skids and Stocks Fall Hard as Earnings Disappoint, Caterpillar Tumbles

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Eli Lilly CEO Expresses Confidence in New Rheumatoid Arthritis Drug

Eli Lilly CEO Expresses Confidence in New Rheumatoid Arthritis Drug

Video: Jim Cramer on Rising Interest Rates, Trade Worries & Caterpillar

Video: Jim Cramer on Rising Interest Rates, Trade Worries & Caterpillar