Stocks of Coherent Corp (NYSE:COHR) traded higher last session on Wall Street, down -4.88% to $92.44.
COHR stock price is now 5.11% away from the 50-day moving average and 35.05% away from the 200-day moving average. The market capitalization of the company currently stands at $14.27B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $105, Rosenblatt recently Downgraded its rating from Buy to Neutral for Coherent Corp (NYSE: COHR). On October 18, 2024, B. Riley Securities Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $86, while ‘Needham’ rates the stock as ‘Buy’
In other news, Koeppen Christopher, Chief Innovation Officer sold 1,899 shares of the company’s stock on Oct 01 ’24. The stock was sold for $173,474 at an average price of $91.35. Upon completion of the transaction, the Chief Innovation Officer now directly owns 66,148 shares in the company, valued at $6.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 01 ’24, Officer CHRISTOPHER KOEPPEN bought 1,899 shares of the business’s stock. A total of $168,840 was incurred on buying the stock at an average price of $88.91. A total of 1.40% of the company’s stock is owned by insiders.
During the past 12 months, Coherent Corp has had a low of $28.62 and a high of $106.50. 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 $87.9486 and a two-hundred day moving average price translates $68.44775 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.
