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

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on LASR shares. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Stifel Nicolaus initiated coverage on shares of nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 target price for the company. Cantor Fitzgerald lifted their target price on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Canaccord Genuity Group upgraded shares of nLight to a “buy” rating in a research note on Wednesday, December 17th. Finally, Needham & Company LLC raised their price objective on shares of nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, nLight currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

nLight Stock Performance

The stock 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 quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $43.37 and a two-hundred day moving average price of $34.85.

Insider Transactions at nLight

In other news, CFO Joseph John Corso sold 66,075 shares of nLight stock in a transaction dated Monday, December 15th. The stock was 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 in the company, valued at approximately $7,126,855.68. The trade was a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Nias sold 1,200 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $30.00, for a total transaction of $36,000.00. Following the sale, the chief accounting officer owned 99,512 shares of the company’s stock, valued at $2,985,360. This represents a 1.19% 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 valued at $4,658,166 in the last quarter. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On nLight

Institutional investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership purchased a new position in nLight during the 4th quarter valued at about $41,315,000. Invesco Ltd. increased its stake in shares of nLight by 377.2% during the third quarter. Invesco Ltd. now owns 1,057,281 shares of the company’s stock valued at $31,327,000 after purchasing an additional 835,720 shares in the last quarter. Portolan Capital Management LLC bought a new position in shares of nLight during the third quarter valued at approximately $22,809,000. Vanguard Group Inc. lifted its holdings in shares of nLight by 18.2% during the third quarter. Vanguard Group Inc. now owns 4,864,312 shares of the company’s stock valued at $144,130,000 after purchasing an additional 747,958 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of nLight by 537.8% in the 3rd quarter. Marshall Wace LLP now owns 631,486 shares of the company’s stock worth $18,711,000 after purchasing an additional 532,470 shares in the last quarter. 83.88% of the stock is owned by institutional investors.

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.