Zacks Investment Research upgraded shares of Nlight (NASDAQ:LASR) from a sell rating to a hold rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber laser. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “

Other analysts also recently issued reports about the company. Craig Hallum decreased their price target on Nlight from $23.00 to $16.00 and set an in-line rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity decreased their price target on Nlight from $28.00 to $18.00 and set an in-line rating for the company in a research report on Tuesday, August 6th. ValuEngine raised Nlight from a hold rating to a buy rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a buy rating and set a $19.00 price target (down from $21.00) on shares of Nlight in a research report on Tuesday, August 6th. Finally, DA Davidson reaffirmed a buy rating and set a $20.00 price target on shares of Nlight in a research report on Tuesday, August 6th. One research 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 stock. The stock currently has a consensus rating of Hold and a consensus price target of $22.56.

Shares of LASR opened at $13.65 on Thursday. The company has a market capitalization of $540.82 million, a price-to-earnings ratio of 42.66 and a beta of 2.00. The stock has a 50 day moving average of $15.67 and a 200 day moving average of $20.15. Nlight has a 12 month low of $13.56 and a 12 month high of $32.29.

Nlight (NASDAQ:LASR) last issued its quarterly earnings results 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 business had revenue of $48.05 million for the quarter, compared to analysts’ expectations of $47.79 million. Nlight had a net margin of 2.66% and a return on equity of 2.28%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 earnings per share. Sell-side analysts anticipate that Nlight will post -0.18 EPS for the current year.

In other Nlight news, CFO Ran Bareket sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Martinsen sold 1,500 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $20.04, for a total value of $30,060.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $139,250 over the last three months. Company insiders own 5.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in LASR. Geode Capital Management LLC increased its position in Nlight by 68.9% in the fourth quarter. Geode Capital Management LLC now owns 145,412 shares of the company’s stock worth $2,585,000 after buying an additional 59,338 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Nlight by 50.4% in the fourth quarter. Bank of America Corp DE now owns 50,822 shares of the company’s stock worth $903,000 after acquiring an additional 17,033 shares during the period. Legal & General Group Plc boosted its holdings in shares of Nlight by 302.6% in the fourth quarter. Legal & General Group Plc now owns 4,119 shares of the company’s stock worth $73,000 after acquiring an additional 3,096 shares during the period. FMR LLC boosted its holdings in shares of Nlight by 33.3% in the fourth quarter. FMR LLC now owns 98,000 shares of the company’s stock worth $1,742,000 after acquiring an additional 24,499 shares during the period. Finally, Norges Bank bought a new position in shares of Nlight in the fourth quarter worth $1,002,000. 80.41% of the stock is owned by institutional investors and hedge funds.

About Nlight

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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