Zacks Investment Research downgraded shares of API TECH CORP (ATNY) from NEUTRAL to UNDERPERFORM on October 17, 2012, with a target price of $2.70.
API Technologies is engaged as a prime system contractor in secure communications and a leading provider of electronic components and subsystems. The company has successfully grown its business in traditional electronics for military and industrial applications. API's customers include the U.S. Department of Defense (DoD) and its prime contractors, U.S. Government intelligence agencies, the U.S. Department of Homeland Security (DHS), U.S. Department of State (DoS) and U.S. Department of Justice (DoJ), including various government and prime contractors of Canada, the United Kingdom, NATO and the European Union. The Company is engaged in providing innovative design, engineering and manufacturing solutions to its customers. The Company has also developed expertise in the R&D and manufacture of nanotechnology and MEMS products.
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