nLight (NASDAQ:LASR) Hits New 12-Month High – Still a Buy?

nLight (NASDAQ:LASR)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $51.34 and last traded at $51.18, with a volume of 1248303 shares trading hands. The stock had previously closed at $46.09.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Needham & Company LLC boosted their target price on shares of nLight from $39.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Cantor Fitzgerald increased their price target on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, nLight presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

nLight Stock Performance

The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -58.09 and a beta of 2.33. The firm’s fifty day moving average price is $40.28 and its 200 day moving average price is $32.69.

Insider Transactions at nLight

In related news, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the transaction, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Nias sold 1,200 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $30.00, for a total value of $36,000.00. Following the transaction, the chief accounting officer owned 99,512 shares of the company’s stock, valued at $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 141,262 shares of company stock valued at $5,101,910. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of nLight

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Consulate Inc. acquired a new stake in shares of nLight during the fourth quarter worth about $41,000. SBI Securities Co. Ltd. increased its stake in nLight by 22.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock worth $46,000 after buying an additional 223 shares during the period. Wexford Capital LP acquired a new stake in nLight during the 3rd quarter worth approximately $41,000. Global Retirement Partners LLC purchased a new position in nLight in the 3rd quarter valued at approximately $49,000. Finally, Osaic Holdings Inc. boosted its position in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after buying an additional 1,727 shares during the period. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLight Company Profile

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.