Electro Scientific Industries Inc. (NASDAQ:ESIO)’s share price was down 28.6% during mid-day trading on Wednesday . The company traded as low as $4.74 and last traded at $4.89, with a volume of 1,440,335 shares traded. The stock had previously closed at $6.85.

A number of equities analysts recently issued reports on ESIO shares. Zacks Investment Research upgraded Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Tuesday, July 12th. Needham & Company LLC lifted their target price on Electro Scientific Industries from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, May 11th.

The firm’s 50-day moving average price is $6.22 and its 200 day moving average price is $6.69. The firm’s market cap is $159.87 million.

Electro Scientific Industries (NASDAQ:ESIO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.05 by $0.04. The business earned $47.70 million during the quarter, compared to analyst estimates of $50.75 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that Electro Scientific Industries Inc. will post $0.07 EPS for the current fiscal year.

In other Electro Scientific Industries news, CFO Paul R. Oldham sold 5,082 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $6.92, for a total transaction of $35,167.44. Following the transaction, the chief financial officer now owns 217,706 shares of the company’s stock, valued at approximately $1,506,525.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Bing-Fai Wong sold 10,000 shares of the company’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the transaction, the vice president now directly owns 97,674 shares in the company, valued at approximately $694,462.14. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Electro Scientific Industries stock. Royce & Associates LLC increased its position in shares of Electro Scientific Industries Inc. (NASDAQ:ESIO) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,591,279 shares of the company’s stock after buying an additional 168,700 shares during the period. Royce & Associates LLC owned approximately 5.05% of Electro Scientific Industries worth $8,259,000 at the end of the most recent quarter.

Electro Scientific Industries, Inc is a supplier of laser-based manufacturing solutions for the micro technology industry. The Company operates in two segments, Component Processing and Micromachining. Its Component Processing segment includes interconnect products, semiconductor products and component products.