AAC Technologies (OTCMKTS:AACAY) Shares Down 8% – Here’s Why

Shares of AAC Technologies Holdings Inc. (OTCMKTS:AACAY) fell 8% on Friday. The stock traded as low as $4.5801 and last traded at $4.5801. 437 shares traded hands during trading, a decline of 96% from the average session volume of 11,405 shares. The stock had previously closed at $4.9801.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut shares of AAC Technologies from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

AAC Technologies Stock Down 1.7%

The firm’s fifty day moving average price is $5.19 and its 200 day moving average price is $5.14.

About AAC Technologies

AAC Technologies Holdings Inc is a China-based manufacturer of advanced components and solutions for consumer electronics and other technology applications. The company develops and produces miniaturized components used in smartphones, tablets, laptops, wearable devices, automotive systems and connected products.

Its product portfolio includes acoustic components such as speakers, receivers and microphones, as well as haptic systems, precision mechanical components, optical components and related modules.