Nlight (NASDAQ:LASR) Stock Rating Upgraded by ValuEngine

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Nlight (NASDAQ:LASR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday, ValuEngine reports.

Several other brokerages have also recently weighed in on LASR. Canaccord Genuity dropped their price target on shares of Nlight from $28.00 to $18.00 and set an “in-line” rating on the stock in a research note on Tuesday, August 6th. Zacks Investment Research cut shares of Nlight from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Craig Hallum dropped their price target on shares of Nlight from $23.00 to $16.00 and set an “in-line” rating on the stock in a research note on Tuesday, August 6th. DA Davidson reiterated a “buy” rating and set a $20.00 price target on shares of Nlight in a research note on Tuesday, August 6th. Finally, Needham & Company LLC lifted their price target on shares of Nlight from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Nlight presently has an average rating of “Hold” and a consensus price target of $17.17.

Shares of Nlight stock opened at $19.37 on Tuesday. The company’s fifty day simple moving average is $16.53 and its 200-day simple moving average is $16.62. The stock has a market capitalization of $752.54 million, a PE ratio of 60.53 and a beta of 2.41. Nlight has a 1-year low of $12.60 and a 1-year high of $26.77.

Nlight (NASDAQ:LASR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $43.92 million. Nlight had a return on equity of 0.09% and a net margin of 0.11%. The company’s revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. On average, equities research analysts expect that Nlight will post -0.19 EPS for the current fiscal year.

In related news, CFO Ran Bareket sold 25,000 shares of Nlight stock in a transaction on Friday, November 15th. The shares were sold at an average price of $20.02, for a total transaction of $500,500.00. Following the transaction, the chief financial officer now owns 118,333 shares in the company, valued at approximately $2,369,026.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Martinsen sold 24,905 shares of Nlight stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $199.45, for a total transaction of $4,967,302.25. In the last 90 days, insiders have sold 62,243 shares of company stock worth $5,714,562. 5.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LASR. Marshall Wace LLP purchased a new position in shares of Nlight during the 1st quarter valued at $379,000. Janus Henderson Group PLC purchased a new position in shares of Nlight during the 2nd quarter valued at $288,000. Rice Hall James & Associates LLC lifted its stake in shares of Nlight by 10.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 109,590 shares of the company’s stock valued at $2,104,000 after buying an additional 10,666 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Nlight by 3.4% during the 2nd quarter. Stephens Investment Management Group LLC now owns 527,135 shares of the company’s stock valued at $10,121,000 after buying an additional 17,493 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Nlight by 27.8% during the 2nd quarter. Swiss National Bank now owns 51,100 shares of the company’s stock valued at $981,000 after buying an additional 11,100 shares in the last quarter. Institutional investors own 81.78% of the company’s stock.

Nlight Company Profile

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.

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Analyst Recommendations for Nlight (NASDAQ:LASR)

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