nLight (NASDAQ:LASR – Get Free Report) shares were down 6.9% on Monday . The stock traded as low as $66.01 and last traded at $65.1840. 122,410 shares were traded during trading, a decline of 91% from the average session volume of 1,438,232 shares. The stock had previously closed at $70.02.
Analyst Upgrades and Downgrades
LASR has been the topic of a number of recent research reports. Craig Hallum raised their target price on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Zacks Research upgraded nLight from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Stifel Nicolaus raised their price target on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Needham & Company LLC boosted their price objective on nLight from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, nLight presently has a consensus rating of “Buy” and an average price target of $80.94.
Read Our Latest Stock Analysis on nLight
nLight Trading Down 5.1%
nLight (NASDAQ:LASR – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The firm had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $72.14 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. nLight’s quarterly revenue was up 55.2% on a year-over-year basis. Sell-side analysts expect that nLight will post -0.17 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Scott H. Keeney sold 46,735 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total value of $3,200,412.80. Following the sale, the chief executive officer directly owned 2,375,519 shares in the company, valued at $162,675,541.12. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, CFO Joseph John Corso sold 35,476 shares of nLight stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total value of $2,497,510.40. Following the sale, the chief financial officer directly owned 177,572 shares in the company, valued at $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 sold a total of 391,038 shares of company stock valued at $28,367,419 over the last three months. Corporate insiders own 3.10% of the company’s stock.
Institutional Investors Weigh In On nLight
Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after buying an additional 1,727 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 647 shares in the last quarter. Financial Consulate Inc. bought a new position in shares of nLight in the fourth quarter valued at approximately $41,000. Finally, Wexford Capital LP acquired a new position in shares of nLight during the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.88% of the company’s stock.
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.
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