nLight (NASDAQ:LASR) Reaches New 52-Week High – Should You Buy?

nLight (NASDAQ:LASR)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $38.63 and last traded at $38.2910, with a volume of 250730 shares changing hands. The stock had previously closed at $37.80.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LASR. Needham & Company LLC increased their price objective on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Stifel Nicolaus increased their price target on shares of nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald increased their target price on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

nLight Stock Performance

The stock’s 50-day moving average price is $32.56 and its 200 day moving average price is $26.36. 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 market cap of $1.83 billion, a P/E ratio of -41.05 and a beta of 2.34.

Insider Activity

In other nLight news, CEO Scott H. Keeney sold 62,507 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $30.99, for a total transaction of $1,937,091.93. Following the completion of the transaction, the chief executive officer owned 2,319,038 shares of the company’s stock, valued at $71,866,987.62. The trade was a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $35.33, for a total transaction of $443,744.80. Following the sale, the director owned 102,576 shares of the company’s stock, valued at $3,624,010.08. This trade represents a 10.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 105,946 shares of company stock worth $3,448,291. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On nLight

A number of institutional investors have recently added to or reduced their stakes in the company. Wexford Capital LP bought a new position in nLight during the third quarter valued at about $41,000. GAMMA Investing LLC grew its holdings in shares of nLight by 147.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after purchasing an additional 924 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of nLight during the third quarter valued at approximately $49,000. Osaic Holdings Inc. raised its stake in shares of nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after purchasing an additional 1,727 shares in the last quarter. Finally, Quarry LP raised its stake in shares of nLight by 120.5% in the third quarter. Quarry LP now owns 2,509 shares of the company’s stock valued at $74,000 after purchasing an additional 1,371 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

About nLight

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.