nLight (NASDAQ:LASR) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of nLight (NASDAQ:LASR) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $86.50.

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Craig Hallum raised their target price on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th.

Insiders Place Their Bets

In related news, CEO Scott Keeney sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $41.01, for a total value of $4,101,000.00. Following the completion of the sale, the chief executive officer owned 1,960,034 shares of the company’s stock, valued at approximately $80,380,994.34. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph Corso sold 3,524 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were 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. This represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. 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 ninety days, insiders sold 616,697 shares of company stock valued at $26,999,794. Insiders own 3.10% of the company’s stock.

Institutional Trading of nLight

Several large investors have recently added to or reduced their stakes in the stock. Amundi acquired a new stake in shares of nLight during the 1st quarter worth approximately $1,023,000. Rice Hall James & Associates LLC purchased a new stake in shares of nLight during the 2nd quarter valued at approximately $3,740,000. Bank of America Corp DE purchased a new stake in shares of nLight during the 2nd quarter valued at approximately $8,938,000. Lazard Asset Management LLC purchased a new stake in shares of nLight during the 1st quarter valued at approximately $1,847,000. Finally, Tidal Investments LLC lifted its holdings in nLight by 2,995.5% in the second quarter. Tidal Investments LLC now owns 406,624 shares of the company’s stock valued at $28,309,000 after acquiring an additional 393,488 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLight Stock Up 0.9%

Shares of LASR opened at $38.58 on Wednesday. nLight has a 52-week low of $28.05 and a 52-week high of $86.95. The stock has a market cap of $2.23 billion, a PE ratio of -154.32 and a beta of 2.37. The firm’s fifty day moving average is $44.04 and its two-hundred day moving average is $60.05.

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

About nLight

nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.

The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.

Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.