Coherent Inc. (COHR) shares dropped 6.8% in morning trading, settling at $327.19. The move follows a post‑earnings rally that had lifted the stock more than 7% earlier in the session. Coherent had surged from the low $240s in late July to above $350 within weeks, while its 52‑week low remains $84.35.
The company reported fiscal fourth‑quarter 2026 results on August 12. Revenue reached $2.05 billion, up roughly 34% year‑over‑year, and non‑GAAP earnings per share were $1.74, beating consensus estimates. Guidance for fiscal first‑quarter 2027 projects revenue of $2.2‑$2.4 billion, above Street expectations.
On August 18, Cboe launched the Tradr 2X Short COHR Daily ETF (ticker COHQ), which seeks to deliver –200% of Coherent’s daily performance. The debut of this inverse leveraged product added additional selling pressure on the stock.
Wall Street analysts, including Jefferies and Morgan Stanley, raised price targets after the earnings release. However, company insiders have been net sellers of COHR over the past three months, with no reported purchases.
The broader technology sector was also under pressure, as the Nasdaq Composite fell 0.9% and the S&P 500 slipped 0.4% during the same period.
