nLight (NASDAQ:LASR) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of nLight (NASDAQ:LASR) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $82.06.

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Northcoast Research raised nLight from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, October 7th. Needham & Company LLC started coverage on nLight in a research report on Tuesday. They set a “buy” rating and a $50.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Thursday, October 15th.

Trending Headlines about nLight

Here are the key news stories impacting nLight this week:

• Positive Sentiment: nLIGHT reported Q3 earnings of $0.16 per share, above analyst estimates of roughly $0.05–$0.06. Revenue was $73.76 million, topping the $68.16 million consensus and increasing 10.5% year over year. Management also cited record product gross margins and strong adjusted EBITDA. nLIGHT Q3 results
• Positive Sentiment: Q4 revenue guidance of $84 million–$90 million is well above analysts’ $74.7 million estimate, suggesting stronger near-term demand or execution than expected and providing the main forward-looking catalyst for the stock. nLIGHT results and guidance
• Neutral Sentiment: The company said ongoing supply constraints remain, which could limit its ability to meet demand or deliver on its outlook. nLIGHT Q3 results

Insider Transactions at nLight

In other nLight news, CFO Joseph Corso sold 4,191 shares of nLight stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $170,531.79. Following the transaction, the chief financial officer directly owned 165,724 shares of the company’s stock, valued at $6,743,309.56. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, CEO Scott H. Keeney sold 181,750 shares of nLight stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $46.88, for a total transaction of $8,520,440.00. Following the transaction, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $102,434,628.32. This trade represents a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 621,149 shares of company stock valued at $27,153,700. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nLight

A number of large investors have recently modified their holdings of the stock. Diversified Trust Co lifted its position in nLight by 3.4% in the third quarter. Diversified Trust Co now owns 29,208 shares of the company’s stock worth $1,138,000 after purchasing an additional 967 shares during the period. Aberdeen Group plc bought a new position in nLight during the third quarter valued at about $10,482,000. Russell Investments Group Ltd. grew its holdings in nLight by 28.0% during the third quarter. Russell Investments Group Ltd. now owns 193,038 shares of the company’s stock worth $7,518,000 after acquiring an additional 42,179 shares during the period. Pekin Hardy Strauss Inc. grew its holdings in nLight by 29.7% during the third quarter. Pekin Hardy Strauss Inc. now owns 6,550 shares of the company’s stock worth $255,000 after acquiring an additional 1,500 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in nLight by 849.5% in the 3rd quarter. Sterling Capital Management LLC now owns 1,861 shares of the company’s stock valued at $72,000 after acquiring an additional 1,665 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight Price Performance

LASR opened at $38.02 on Friday. nLight has a 12 month low of $28.05 and a 12 month high of $86.95. The business has a 50-day moving average of $38.48 and a two-hundred day moving average of $57.21. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -165.30 and a beta of 2.46.

nLight (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. nLight had a negative net margin of 4.02% and a negative return on equity of 1.09%. The business had revenue of $73.76 million for the quarter, compared to analyst estimates of $68.16 million. During the same period in the prior year, the firm posted $0.08 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that nLight will post -0.19 earnings per share for the current year.

nLight Company Profile

nLight, Inc (NASDAQ: LASR) develops and manufactures semiconductor and fiber lasers for industrial, microfabrication, aerospace and defense, and other specialized applications. Its products are designed to deliver high optical power, precision and reliability for uses such as materials processing, metal cutting and welding, additive manufacturing, and directed-energy systems.

The company offers a range of laser components and systems, including high-power diode lasers, fiber lasers, and related optical and beam-delivery technologies.