Nlight (NASDAQ:LASR) PT Lowered to $21.00 at Needham & Company LLC

Nlight (NASDAQ:LASR) had its target price reduced by Needham & Company LLC to $21.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.

Separately, Zacks Investment Research lowered Hess Midstream Partners from a hold rating to a sell rating in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $25.13.

LASR stock opened at $15.20 on Wednesday. The business’s 50-day simple moving average is $18.20. The company has a market capitalization of $562.48 million, a price-to-earnings ratio of 63.33, a PEG ratio of 5.79 and a beta of 2.02. Nlight has a 1-year low of $14.78 and a 1-year high of $41.78.

Nlight (NASDAQ:LASR) last posted its earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The firm had revenue of $41.86 million for the quarter, compared to analyst estimates of $42.47 million. Nlight had a return on equity of 4.77% and a net margin of 5.13%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, equities analysts forecast that Nlight will post 0.09 earnings per share for the current year.

In other Nlight news, insider Scott H. Keeney sold 4,935 shares of Nlight stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $23.11, for a total value of $114,047.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $25.07, for a total value of $125,350.00. The disclosure for this sale can be found here. Insiders sold a total of 25,370 shares of company stock worth $591,067 in the last three months. Company insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in shares of Nlight by 34.0% in the 4th quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock valued at $46,000 after purchasing an additional 650 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nlight by 112.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock valued at $51,000 after acquiring an additional 1,214 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Nlight in the first quarter valued at about $52,000. Optimum Investment Advisors acquired a new stake in shares of Nlight in the first quarter valued at about $58,000. Finally, Legal & General Group Plc increased its position 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 valued at $73,000 after acquiring an additional 3,096 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Nlight Company Profile

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.

Further Reading: Buyback For Investors Defined

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Analyst Recommendations for Nlight (NASDAQ:LASR)

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