Rofin-Sinar Technologies Inc. (RSTI) Sees Large Volume Increase
Rofin-Sinar Technologies Inc. (NASDAQ:RSTI) shares saw an uptick in trading volume on Tuesday . 295,556 shares traded hands during mid-day trading, an increase of 100% from the previous session’s volume of 148,022 shares.The stock last traded at $31.49 and had previously closed at $31.98.
Separately, Zacks Investment Research raised Rofin-Sinar Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Rofin-Sinar Technologies currently has an average rating of “Hold” and an average price target of $31.67.
The company’s 50 day moving average price is $31.87 and its 200-day moving average price is $28.82. The company has a market cap of $891.23 million and a price-to-earnings ratio of 26.73.
Rofin-Sinar Technologies (NASDAQ:RSTI) last released its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.22. The company earned $110.60 million during the quarter, compared to analyst estimates of $119.08 million. During the same period in the prior year, the company earned $0.31 EPS. Rofin-Sinar Technologies’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, equities research analysts expect that Rofin-Sinar Technologies Inc. will post $1.12 EPS for the current year.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in Rofin-Sinar Technologies by 7.2% in the fourth quarter. First Trust Advisors LP now owns 73,717 shares of the company’s stock worth $1,974,000 after buying an additional 4,955 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Rofin-Sinar Technologies by 4.6% in the fourth quarter. California Public Employees Retirement System now owns 90,300 shares of the company’s stock valued at $2,418,000 after buying an additional 4,000 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Rofin-Sinar Technologies by 4.2% in the fourth quarter. Rhumbline Advisers now owns 43,737 shares of the company’s stock valued at $1,171,000 after buying an additional 1,760 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Rofin-Sinar Technologies by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 52,221 shares of the company’s stock valued at $1,398,000 after buying an additional 918 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Rofin-Sinar Technologies by 0.4% in the fourth quarter. Nationwide Fund Advisors now owns 45,509 shares of the company’s stock valued at $1,219,000 after buying an additional 159 shares during the last quarter.
ROFIN-SINAR Technologies Inc is engaged in the design, development, engineering, manufacturing and marketing of laser sources and laser-based system solutions for industrial material processing applications, which include primarily cutting, welding and marking a range of materials. The Company offers a range of laser components.
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