nLight (LASR) – What Are Brokerages Saying About This Stock?

nLight (NASDAQ:LASR) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $82.06.

A number of equities analysts recently commented on the company. Northcoast Research raised nLight from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, October 7th. Needham & Company LLC began coverage on nLight in a report on Tuesday. They set a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Thursday, October 15th. Craig Hallum increased their target price on nLight from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th.

Insider Activity

In other nLight news, CEO Scott Keeney sold 181,750 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $46.88, for a total value of $8,520,440.00. Following the sale, the chief executive officer owned 2,185,039 shares in the company, valued at $102,434,628.32. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph Corso sold 4,191 shares of nLight stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $170,531.79. Following the sale, the chief financial officer directly owned 165,724 shares of the company’s stock, valued at $6,743,309.56. This represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 621,149 shares of company stock valued at $27,153,700. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nLight

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in nLight during the first quarter worth approximately $52,000. Activest Wealth Management purchased a new position in shares of nLight during the 3rd quarter worth about $39,000. Allworth Financial LP purchased a new position in shares of nLight during the 2nd quarter worth about $81,000. Ascentis Independent Advisors purchased a new position in shares of nLight during the 1st quarter worth about $70,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of nLight in the second quarter worth approximately $108,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Stock Down 11.1%

LASR opened at $29.34 on Friday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -117.36 and a beta of 2.46. The firm has a 50 day moving average price of $38.62 and a 200-day moving average price of $57.25. nLight has a twelve month low of $28.05 and a twelve month high of $86.95.

nLight (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%. The firm had revenue of $73.76 million for the quarter, compared to the consensus estimate of $68.16 million. During the same quarter last year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts expect that nLight will post -0.19 earnings per share for the current year.

nLight Company Profile

nLight, Inc (NASDAQ: LASR) develops and manufactures semiconductor and fiber lasers for industrial, microfabrication, aerospace and defense, and other specialized applications. Its products are designed to deliver high optical power, precision and reliability for uses such as materials processing, metal cutting and welding, additive manufacturing, and directed-energy systems.

The company offers a range of laser components and systems, including high-power diode lasers, fiber lasers, and related optical and beam-delivery technologies.