nLight (NASDAQ:LASR) Reaches New 1-Year High – Here’s Why

nLight (NASDAQ:LASR) hit a new 52-week high on Thursday . The company traded as high as $56.43 and last traded at $54.35, with a volume of 1954758 shares traded. The stock had previously closed at $50.89.

Analyst Ratings Changes

A number of research firms have recently issued reports on LASR. Canaccord Genuity Group raised nLight to a “buy” rating in a research report on Wednesday, December 17th. Roth Mkm raised their price target on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Stifel Nicolaus began coverage on shares of nLight in a research note on Tuesday, January 20th. They set a “buy” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

nLight Stock Up 6.8%

The firm’s fifty day moving average is $43.37 and its 200-day moving average is $34.85. The company has a market capitalization of $2.76 billion, a P/E ratio of -61.76 and a beta of 2.33. 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 firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $36.32, for a total value 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 trade represents a 25.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott H. Keeney sold 31,748 shares of nLight stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer directly owned 2,285,020 shares in the company, valued at $85,711,100.20. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 128,702 shares of company stock worth $4,658,166 in the last quarter. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV bought a new position in shares of nLight during the 4th quarter valued at approximately $353,000. Virtue Capital Management LLC lifted its stake in nLight by 176.5% in the fourth quarter. Virtue Capital Management LLC now owns 30,616 shares of the company’s stock valued at $1,175,000 after purchasing an additional 19,544 shares during the last quarter. NewEdge Advisors LLC lifted its stake in nLight by 8.0% in the fourth quarter. NewEdge Advisors LLC now owns 6,003 shares of the company’s stock valued at $225,000 after purchasing an additional 443 shares during the last quarter. Zacks Investment Management grew its holdings in nLight by 19.6% during the fourth quarter. Zacks Investment Management now owns 8,072 shares of the company’s stock valued at $303,000 after purchasing an additional 1,322 shares during the period. Finally, VARCOV Co. purchased a new stake in nLight in the fourth quarter worth $379,000. Institutional investors own 83.88% of the company’s stock.

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.