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.

GTAT Chart GTAT data by YCharts

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