nLight (NASDAQ:LASR) Receives $38.43 Consensus Price Target from Analysts

Shares of nLight (NASDAQ:LASR) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $38.4286.

Several equities analysts recently issued reports on LASR shares. Cantor Fitzgerald upped their price objective on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Canaccord Genuity Group upgraded nLight to a “buy” rating in a report on Wednesday, December 17th. Roth Mkm initiated coverage on nLight in a report on Wednesday, December 17th. They set a “buy” rating and a $44.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Finally, Needham & Company LLC increased their target price on nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th.

nLight Trading Down 3.2%

Shares of LASR stock opened at $45.61 on Friday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -51.83 and a beta of 2.33. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $39.22 and a 200 day moving average price of $32.10. nLight has a twelve month low of $6.20 and a twelve month high of $48.66.

Insider Activity at nLight

In related news, CFO Joseph John Corso sold 66,075 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Keeney sold 31,748 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the completion of the sale, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 141,262 shares of company stock valued at $5,101,910. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLight

Hedge funds have recently made changes to their positions in the business. Emerald Mutual Fund Advisers Trust purchased a new position in shares of nLight during the 3rd quarter valued at approximately $8,626,000. AIGH Capital Management LLC bought a new stake in shares of nLight in the second quarter worth $11,810,000. Coldstream Capital Management Inc. raised its holdings in nLight by 48,328.6% in the second quarter. Coldstream Capital Management Inc. now owns 13,560 shares of the company’s stock valued at $267,000 after acquiring an additional 13,532 shares in the last quarter. Harvey Partners LLC boosted its stake in nLight by 1.7% during the 2nd quarter. Harvey Partners LLC now owns 2,107,348 shares of the company’s stock valued at $41,473,000 after acquiring an additional 34,348 shares during the last quarter. Finally, Bosun Asset Management LLC bought a new position in nLight during the 2nd quarter valued at $599,000. Hedge funds and other 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.