nLight (NASDAQ:LASR) Receives Consensus Rating of “Moderate Buy” from Brokerages

nLight (NASDAQ:LASR) has earned an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $75.50.

Several equities analysts recently weighed in on LASR shares. William Blair began coverage on nLight in a research note on Friday, March 27th. They issued an “outperform” rating for the company. Stifel Nicolaus raised their target price on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Tuesday, April 21st. Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of nLight in a research note on Friday, May 8th.

Insider Transactions at nLight

In related news, CEO Scott H. Keeney sold 46,735 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $68.48, for a total transaction of $3,200,412.80. Following the completion of the sale, the chief executive officer owned 2,375,519 shares of the company’s stock, valued at approximately $162,675,541.12. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph John Corso sold 35,476 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40. Following the completion of the sale, the chief financial officer owned 177,572 shares of the company’s stock, valued at approximately $12,501,068.80. The trade was a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 391,038 shares of company stock worth $28,367,419 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nLight

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its position in nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after acquiring an additional 1,727 shares during the period. Sunbelt Securities Inc. raised its stake in shares of nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares during the period. Financial Consulate Inc. acquired a new position in nLight during the 4th quarter worth $41,000. Finally, Wexford Capital LP purchased a new stake in nLight during the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Stock Performance

Shares of NASDAQ:LASR opened at $63.25 on Monday. nLight has a 12-month low of $17.84 and a 12-month high of $86.95. The company has a market capitalization of $3.57 billion, a PE ratio of -210.83 and a beta of 2.30. The business has a 50 day moving average of $70.81 and a two-hundred day moving average of $59.69.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $80.18 million for the quarter, compared to analysts’ expectations of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The business’s revenue was up 55.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. Equities research analysts predict that nLight will post -0.17 earnings per share for the current fiscal year.

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.