In yesterday’s Wall Street session, Coherent Corp (NYSE:COHR) shares traded at $86.06, up 6.27% from the previous session.
COHR stock price is now 18.75% away from the 50-day moving average and 42.84% away from the 200-day moving average. The market capitalization of the company currently stands at $13.19B.
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With the price target enhanced from $72 to $84, Needham maintained Buy rating for Coherent Corp (NYSE: COHR). On August 12, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $65 to quote $75, while ‘Barclays’ rates the stock as ‘Overweight’
In other news, Basso Ronald, Chief Legal & Compliance Off. sold 4,741 shares of the company’s stock on Sep 13 ’24. The stock was sold for $369,395 at an average price of $77.92. Upon completion of the transaction, the Chief Legal & Compliance Off. now directly owns 39,434 shares in the company, valued at $3.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 13 ’24, Director CORASANTI JOSEPH J sold 8,970 shares of the business’s stock. A total of $694,175 was realized by selling the stock at an average price of $77.39. This leaves the insider owning 92,642 shares of the company worth $7.97 million. A total of 1.33% of the company’s stock is owned by insiders.
During the past 12 months, Coherent Corp has had a low of $28.47 and a high of $83.99. As of last week, the company has a debt-to-equity ratio of 0.57, a current ratio of 2.72, and a quick ratio of 1.77. The fifty day moving average price for COHR is $72.6642 and a two-hundred day moving average price translates $60.4881 for the stock.
The latest earnings results from Coherent Corp (NYSE: COHR) was released for 2024-06-30. The net profit margin was -5.94% and return on equity was -2.11% for COHR. The company reported revenue of $1.31 billion for the quarter, compared to $1.21 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.07 percent.
