Coherent, Inc. (COHR) Draws Bearish Attention After Forming Bearish Double Bottom Pattern

February 15, 2018 - By Vivian Park

Investors sentiment decreased to 1.03 in 2017 Q3. Its down 0.08, from 1.11 in 2017Q2. It worsened, as 40 investors sold Coherent, Inc. shares while 113 reduced holdings. 56 funds opened positions while 101 raised stakes. 23.23 million shares or 4.25% more from 22.28 million shares in 2017Q2 were reported.
Hanseatic Mgmt Svcs owns 772 shares or 0.21% of their US portfolio. Schwab Charles Mngmt Incorporated stated it has 126,363 shares. Clinton reported 5,391 shares or 0.14% of all its holdings. California State Teachers Retirement Systems reported 39,372 shares. Retirement Systems Of Alabama holds 31,781 shares or 0.04% of its portfolio. Tudor Et Al stated it has 0.04% in Coherent, Inc. (NASDAQ:COHR). Shaker Investments Limited Oh holds 3,400 shares or 0.56% of its portfolio. Gp One Trading Limited Partnership invested in 0.02% or 7,023 shares. Hightower Advisors Limited Liability Co invested 0% of its portfolio in Coherent, Inc. (NASDAQ:COHR). 37,331 were accumulated by Axiom International Investors Llc De. Systematic Fincl Ltd Partnership reported 0.55% of its portfolio in Coherent, Inc. (NASDAQ:COHR). Wespac Ltd Limited Liability Company holds 0.15% in Coherent, Inc. (NASDAQ:COHR) or 940 shares. Price T Rowe Associate Md reported 1.21 million shares. Jabre Capital Sa has 0.07% invested in Coherent, Inc. (NASDAQ:COHR). Moreover, Mufg Americas Hldgs has 0% invested in Coherent, Inc. (NASDAQ:COHR).

Since August 14, 2017, it had 0 insider purchases, and 2 sales for $6.66 million activity. Another trade for 500 shares valued at $108,790 was sold by SKAGGS STEPHEN A. The insider Sechrist Paul F sold 1,372 shares worth $411,600.

The chart of Coherent, Inc. (COHR) shows a double bottom with $210.95 target or 4.00 % below today’s $219.74 share price. The 7 months chart pattern indicates high risk for the $5.45B company. It was reported on Feb, 15 by Finviz.com. If the $210.95 price target is reached, the company will be worth $218.16M less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.69% or $5.75 during the last trading session, reaching $219.74. About 514,620 shares traded or 1.04% up from the average. Coherent, Inc. (NASDAQ:COHR) has risen 187.82% since February 15, 2017 and is uptrending. It has outperformed by 171.12% the S&P500.

Coherent, Inc. (NASDAQ:COHR) Ratings Coverage

Among 7 analysts covering Coherent (NASDAQ:COHR), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Coherent had 29 analyst reports since August 3, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Wednesday, November 8 by Barclays Capital. As per Friday, January 29, the company rating was maintained by Stifel Nicolaus. The rating was maintained by Longbow on Monday, June 12 with “Buy”. The firm earned “Buy” rating on Monday, February 12 by Northcoast. The stock of Coherent, Inc. (NASDAQ:COHR) earned “Buy” rating by Stifel Nicolaus on Monday, January 9. Susquehanna initiated it with “Neutral” rating and $225 target in Wednesday, February 15 report. The stock of Coherent, Inc. (NASDAQ:COHR) earned “Buy” rating by Needham on Wednesday, November 8. Needham maintained the shares of COHR in report on Wednesday, August 2 with “Buy” rating. The firm has “Buy” rating given on Monday, May 23 by Benchmark. The company was maintained on Thursday, February 8 by Barclays Capital.

More notable recent Coherent, Inc. (NASDAQ:COHR) news were published by: Seekingalpha.com which released: “Coherent’s (COHR) CEO John Ambroseo on Q1 2018 Results – Earnings Call Transcript” on February 08, 2018, also Fool.com with their article: “Why Coherent Stock Crashed Today” published on February 08, 2018, Seekingalpha.com published: “Coherent Seems In Good Health To Us” on January 31, 2018. More interesting news about Coherent, Inc. (NASDAQ:COHR) were released by: Prnewswire.com and their article: “Coherent, Inc. Announces Live Webcast of First Quarter Fiscal Year 2018 Results” published on January 23, 2018 as well as Seekingalpha.com‘s news article titled: “Market Overreaction Presents Buying Opportunity For Coherent Inc.” with publication date: January 28, 2018.

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