nLight (NASDAQ:LASR) Earns Buy Rating from Stifel Nicolaus

nLight (NASDAQ:LASR)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $45.00 target price on the stock, up from their prior target price of $40.00. Stifel Nicolaus’ price target indicates a potential upside of 4.76% from the company’s current price.

LASR has been the subject of several other reports. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Cantor Fitzgerald raised their target price on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.29.

nLight Trading Up 0.6%

Shares of LASR stock traded up $0.24 during mid-day trading on Wednesday, reaching $42.96. The company’s stock had a trading volume of 192,501 shares, compared to its average volume of 693,085. nLight has a 12-month low of $6.20 and a 12-month high of $46.64. The firm has a market capitalization of $2.18 billion, a PE ratio of -48.69 and a beta of 2.33. 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’s 50 day simple moving average is $35.66 and its 200-day simple moving average is $29.72.

Insider Transactions at nLight

In related news, CEO Scott H. Keeney sold 31,748 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the sale, the chief executive officer owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the transaction, the chief financial officer owned 196,224 shares of the company’s stock, valued at $7,126,855.68. This represents a 25.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 141,262 shares of company stock valued at $5,101,910. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLight

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after buying an additional 924 shares during the last quarter. Osaic Holdings Inc. raised 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. Wexford Capital LP purchased a new position in nLight in the third quarter valued at about $41,000. Global Retirement Partners LLC purchased a new position in nLight in the third quarter valued at about $49,000. Finally, Nisa Investment Advisors LLC grew its position in shares of nLight by 162.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the period. 83.88% of the stock is owned by institutional investors.

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.