IPG Photonics Corporation (IPGP) : $3.86 million worth of transactions were on upticks in IPG Photonics Corporation (IPGP), compared to $1.39 million on downticks. The ratio between the two was 2.78, whereas, the net money flow stood at a healthy $2.47 million on Tuesdays session. The consistent buying on upticks in the stock accounted for $2.01million worth of trades. The total money flow into the stock stood at $2.01 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.05%. The stock was trading at $87.21, with a drop of $0.04 over the previous days close. The stock recorded 0.18% for the week.
Also, Canaccord Genuity upgrades its rating on IPG Photonics Corporation (NASDAQ:IPGP). The global brokerage major raises the current price target from $85 per share to $96 per share. Analysts at the Canaccord Genuity have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on June 29, 2016.
Shares of IPG Photonics Corporation rose by 2.37% in the last five trading days and 3.13% for the last 4 weeks. IPG Photonics Corporation has dropped 0.55% during the last 3-month period . Year-to-Date the stock performance stands at -1.99%.
IPG Photonics Corporation (NASDAQ:IPGP): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $87.13 and $87.01 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $87.83. The buying momentum continued till the end and the stock did not give up its gains. It closed at $87.39, notching a gain of 0.16% for the day. The total traded volume was 217,979 . The stock had closed at $87.25 on the previous day.
In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Ipg Photonics Corp, Lego Catherine P had purchased shares worth of $249,360 in a transaction dated on August 3, 2016. A total of 3,000 shares were purchased at a price of $83.12 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
IPG Photonics Corporation is a developer and manufacturer of a range of fiber lasers, fiber amplifiers and diode lasers that are used for various applications, primarily in materials processing. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced, communications and medical applications. The Company sells its products globally to original equipment manufacturers (OEMs), system integrators and end users and markets its products internationally through direct sales force. It designs and manufactures packaged diodes, direct diode lasers, laser systems, communications systems and materials processing laser systems that utilize its optical fiber-based products, as well as other laser sources. It also manufactures complementary products used with its lasers, including optical delivery cables, fiber couplers, beam switches, optical processing heads and chillers.