Could Electro Scientific Industries, Inc. (ESIO) Gain Strenght After Forming Bullish Double Top Chart Pattern?

June 19, 2017 - By Vivian Currie

Investors sentiment decreased to 1.42 in Q4 2016. Its down 0.23, from 1.65 in 2016Q3. It dropped, as 19 investors sold Electro Scientific Industries, Inc. shares while 19 reduced holdings. 12 funds opened positions while 42 raised stakes. 22.72 million shares or 3.05% more from 22.05 million shares in 2016Q3 were reported.
Bankshares Of Ny Mellon owns 418,339 shares. Renaissance Techs Llc invested 0.01% in Electro Scientific Industries, Inc. (NASDAQ:ESIO). Bridgeway Cap Mngmt accumulated 308,300 shares. Principal Gp has 238,077 shares. 85,600 are owned by Strs Ohio. Counselors Of Maryland Ltd Co accumulated 1.60 million shares. Prudential Financial Inc invested in 0% or 71,702 shares. Pnc Finance Service Gp reported 0% in Electro Scientific Industries, Inc. (NASDAQ:ESIO). Ls Invest Ltd Liability Com reported 0% in Electro Scientific Industries, Inc. (NASDAQ:ESIO). Royal Natl Bank Of Canada has 21,235 shares for 0% of their portfolio. New York State Common Retirement Fund reported 28,200 shares. Barclays Public Ltd Co holds 0% of its portfolio in Electro Scientific Industries, Inc. (NASDAQ:ESIO) for 2,006 shares. Adirondack Research & Management invested in 544,508 shares or 1.09% of the stock. Goldman Sachs Gru Inc invested in 83,547 shares or 0% of the stock. Invesco Limited stated it has 0% in Electro Scientific Industries, Inc. (NASDAQ:ESIO).

Since May 11, 2017, it had 0 buys, and 1 insider sale for $529,694 activity.

The chart of Electro Scientific Industries, Inc. (ESIO) shows a double top with $8.93 target or 9.00 % above today’s $8.19 share price. The 5 months chart pattern indicates low risk for the $270.95 million company. It was reported on Jun, 19 by Finviz.com. If the $8.93 price target is reached, the company will be worth $24.39M more. Double tops are rare but powerful chart patterns.

About 7,012 shares traded. Electro Scientific Industries, Inc. (NASDAQ:ESIO) has risen 19.94% since June 19, 2016 and is uptrending. It has outperformed by 3.24% the S&P500.

Electro Scientific Industries, Inc. (NASDAQ:ESIO) Ratings Coverage

Among 2 analysts covering Electro Scientific Industries (NASDAQ:ESIO), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Electro Scientific Industries had 5 analyst reports since August 11, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Monday, August 31 by Zacks. The stock of Electro Scientific Industries, Inc. (NASDAQ:ESIO) earned “Buy” rating by Lake Street on Monday, February 27. The rating was upgraded by Zacks on Tuesday, August 11 to “Sell”. The firm has “Buy” rating by Needham given on Wednesday, May 11. The rating was upgraded by Needham on Wednesday, February 3 to “Buy”.

More notable recent Electro Scientific Industries, Inc. (NASDAQ:ESIO) news were published by: Marketwatch.com which released: “8.24” on January 30, 2011, also Nasdaq.com with their article: “Electro Scientific Industries (ESIO) Jumps: Stock Rises 14.1%” published on May 11, 2017, Seekingalpha.com published: “Electro Scientific Industries’ (ESIO) CEO Michael Burger on Q3 2017 Results …” on February 02, 2017. More interesting news about Electro Scientific Industries, Inc. (NASDAQ:ESIO) were released by: Nasdaq.com and their article: “Electro Scientific Industries Inc (ESIO) Files 10-K for the Fiscal Year Ended …” published on June 15, 2017 as well as Seekingalpha.com‘s news article titled: “Electro Scientific Industries’ (ESIO) CEO Michael Burger on Q2 2017 Results …” with publication date: November 02, 2016.

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