nLight (NASDAQ:LASR) Hits New 52-Week High – Here’s Why

nLight (NASDAQ:LASR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $40.17 and last traded at $39.7350, with a volume of 559878 shares changing hands. The stock had previously closed at $37.55.

Analysts Set New Price Targets

LASR has been the subject of several recent research reports. Roth Capital assumed coverage on shares of nLight in a research report on Wednesday, December 17th. They set a “buy” rating and a $44.00 target price for the company. Canaccord Genuity Group upgraded nLight to a “buy” rating in a research report on Wednesday, December 17th. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Needham & Company LLC upped their target price on shares of nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.29.

nLight Stock Up 4.7%

The stock has a market cap of $2.00 billion, a P/E ratio of -44.69 and a beta of 2.33. The firm has a 50 day simple moving average of $34.93 and a two-hundred day simple moving average of $29.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63.

Insider Activity at nLight

In related news, CFO Joseph John Corso sold 66,075 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the completion of the sale, the chief financial officer directly owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This represents a 25.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Nias sold 1,200 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the transaction, the chief accounting officer directly owned 99,512 shares of the company’s stock, valued at approximately $2,985,360. This represents a 1.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 109,514 shares of company stock worth $3,911,043. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of nLight

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of nLight by 44.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,529 shares of the company’s stock worth $472,000 after buying an additional 3,881 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in nLight by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 319,314 shares of the company’s stock worth $9,461,000 after acquiring an additional 14,724 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in nLight by 1.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 298,484 shares of the company’s stock valued at $8,844,000 after acquiring an additional 3,093 shares during the period. FNY Investment Advisers LLC lifted its holdings in nLight by 6,151.0% during the third quarter. FNY Investment Advisers LLC now owns 41,819 shares of the company’s stock valued at $1,239,000 after purchasing an additional 41,150 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in nLight by 90.5% during the third quarter. Coldstream Capital Management Inc. now owns 25,838 shares of the company’s stock worth $766,000 after purchasing an additional 12,278 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

About nLight

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.