Nlight (NASDAQ:LASR) had its price objective lifted by Needham & Company LLC from $16.00 to $19.00 in a report published on Friday, Briefing.com Automated Import reports. The brokerage currently has a buy rating on the stock.
Several other equities research analysts have also recently weighed in on LASR. Canaccord Genuity cut their target price on Nlight from $28.00 to $18.00 and set an in-line rating for the company in a research note on Tuesday, August 6th. Craig Hallum cut their target price on Nlight from $23.00 to $16.00 and set an in-line rating for the company in a research note on Tuesday, August 6th. DA Davidson restated a buy rating and set a $20.00 target price on shares of Nlight in a research note on Tuesday, August 6th. ValuEngine upgraded Nlight from a hold rating to a buy rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut Nlight from a buy rating to a hold rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $17.86.
NASDAQ:LASR traded down $0.18 during trading hours on Friday, reaching $19.71. 4,995 shares of the company were exchanged, compared to its average volume of 367,084. The company has a market capitalization of $778.59 million, a P/E ratio of 60.56 and a beta of 2.11. Nlight has a 1-year low of $12.60 and a 1-year high of $26.77. The business has a 50 day moving average of $15.15 and a 200 day moving average of $17.01.
Nlight (NASDAQ:LASR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $43.92 million. Nlight had a return on equity of 0.09% and a net margin of 0.11%. The company’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. On average, equities research analysts forecast that Nlight will post -0.18 EPS for the current year.
In other news, CTO Robert Martinsen sold 1,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $20.00, for a total value of $30,000.00. Following the completion of the transaction, the chief technology officer now directly owns 46,655 shares in the company, valued at approximately $933,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ran Bareket sold 25,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $20.02, for a total value of $500,500.00. Following the completion of the transaction, the chief financial officer now owns 118,333 shares of the company’s stock, valued at $2,369,026.66. The disclosure for this sale can be found here. Insiders have sold 51,405 shares of company stock valued at $5,497,802 over the last 90 days. Corporate insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new position in shares of Nlight in the 2nd quarter valued at $48,000. Bank of Montreal Can bought a new position in shares of Nlight in the 2nd quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nlight by 43.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,300 shares of the company’s stock valued at $52,000 after acquiring an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Nlight in the 2nd quarter valued at $176,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Nlight by 1,505.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,656 shares of the company’s stock valued at $228,000 after acquiring an additional 10,930 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.
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.
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