It's possible that happened with PWER recently.
But there, the stock was dead in the water for some time: Then, all of a sudden ABB came in and offered them a 50% premium off consolidated lows. PWER ended up being on the high range of revenue for analyst estimates. Many shareholders were not happy with the offer that management took.
This seems a little different as at least the stock has risen quite a bit off lows.
Gtat could be worth a lot of money to someone who can reach economies of scale in sapphire glass production and bring down costs. If it's as good as we all think, management won't settle for pennies when they know they can have dollars.
On the other hand, maybe institutional money knows things we don't. That would be a great time to dump all over us poor, naïve, and uninformed retailers.