Nlight Inc (NASDAQ:LASR) – Equities research analysts at Northcoast Research decreased their Q3 2019 earnings estimates for shares of Nlight in a research note issued on Tuesday, August 6th. Northcoast Research analyst T. Hayes now forecasts that the company will post earnings of ($0.06) per share for the quarter, down from their previous estimate of $0.06. Northcoast Research also issued estimates for Nlight’s Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.14) EPS, Q1 2020 earnings at $0.01 EPS, Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at ($0.03) EPS and FY2020 earnings at $0.02 EPS.
A number of other research analysts have also commented on LASR. Craig Hallum lowered their price objective on Nlight from $23.00 to $16.00 and set an “in-line” rating on the stock in a report on Tuesday, August 6th. Canaccord Genuity lowered their price objective on Nlight from $28.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, August 6th. Zacks Investment Research raised Nlight from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. DA Davidson reaffirmed a “buy” rating and issued a $20.00 target price on shares of Nlight in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price (down previously from $21.00) on shares of Nlight in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.56.
Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $48.05 million for the quarter, compared to analyst estimates of $47.79 million. Nlight had a net margin of 2.66% and a return on equity of 2.30%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. grew its holdings in Nlight by 3.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 851,915 shares of the company’s stock valued at $18,981,000 after buying an additional 29,710 shares during the last quarter. Northern Trust Corp lifted its position in shares of Nlight by 160.0% in the 4th quarter. Northern Trust Corp now owns 238,609 shares of the company’s stock worth $4,243,000 after acquiring an additional 146,826 shares during the period. Hamilton Lane Advisors LLC lifted its position in shares of Nlight by 22.9% in the 1st quarter. Hamilton Lane Advisors LLC now owns 327,033 shares of the company’s stock worth $7,286,000 after acquiring an additional 61,006 shares during the period. Cortina Asset Management LLC lifted its position in shares of Nlight by 9.4% in the 2nd quarter. Cortina Asset Management LLC now owns 194,607 shares of the company’s stock worth $3,736,000 after acquiring an additional 16,761 shares during the period. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Nlight by 100.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 40,000 shares of the company’s stock worth $891,000 after acquiring an additional 20,000 shares during the period. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
In other Nlight news, insider Robert Martinsen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.04, for a total value of $30,060.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ran Bareket sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders sold a total of 12,370 shares of company stock worth $262,937 in the last ninety days. Insiders own 5.80% of the company’s stock.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.
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