nLight (NASDAQ:LASR) Stock Has Average Price Target of $86.50 According to Brokerages

Shares of nLight (NASDAQ:LASR) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $82.06.

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Thursday, October 15th. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group set a $90.00 price target on shares of nLight in a report on Friday, July 10th. Needham & Company LLC started coverage on nLight in a research note on Tuesday. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Northcoast Research upgraded nLight from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, October 7th.

nLight Trading Up 2.1%

Shares of NASDAQ LASR opened at $36.51 on Friday. nLight has a 1-year low of $28.05 and a 1-year high of $86.95. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -146.04 and a beta of 2.46. The stock has a fifty day simple moving average of $39.11 and a two-hundred day simple moving average of $57.37.

nLight (NASDAQ:LASR) last posted its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%. The business had revenue of $82.59 million during the quarter, compared to analysts’ expectations of $78.58 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 33.8% on a year-over-year basis. Analysts forecast that nLight will post -0.19 EPS for the current year.

Insider Activity at nLight

In other news, CFO Joseph Corso sold 3,524 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $41.49, for a total value of $146,210.76. Following the completion of the sale, the chief financial officer directly owned 162,200 shares of the company’s stock, valued at approximately $6,729,678. The trade was a 2.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, CAO James Nias sold 1,025 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 value of $41,707.25. Following the completion of the transaction, the chief accounting officer owned 96,596 shares in the company, valued at $3,930,491.24. This trade represents a 1.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 621,149 shares of company stock worth $27,153,700 over the last quarter. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nLight

A number of institutional investors have recently modified their holdings of LASR. Activest Wealth Management acquired a new stake in nLight during the third quarter worth about $39,000. Whittier Trust Co. of Nevada Inc. bought a new position in nLight in the first quarter worth about $52,000. Ascentis Independent Advisors acquired a new position in nLight in the first quarter valued at approximately $70,000. Sterling Capital Management LLC boosted its stake in nLight by 849.5% in the third quarter. Sterling Capital Management LLC now owns 1,861 shares of the company’s stock valued at $72,000 after acquiring an additional 1,665 shares during the period. Finally, Allworth Financial LP acquired a new position in nLight in the second quarter valued at approximately $81,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

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.