nLight (NASDAQ:LASR – Get Free Report) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $86.50.
LASR has been the subject of several analyst reports. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. Craig Hallum upped their target price on nLight from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Northcoast Research set a $75.00 price target on nLight and gave the company a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th.
Get Our Latest Research Report on nLight
nLight Price Performance
nLight (NASDAQ:LASR – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The company had revenue of $82.59 million during the quarter, compared to the consensus estimate of $78.58 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. As a group, equities analysts anticipate that nLight will post -0.19 EPS for the current year.
Insider Transactions at nLight
In other news, CAO James Nias sold 1,025 shares of nLight stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $40.69, for a total transaction of $41,707.25. Following the sale, the chief accounting officer directly owned 96,596 shares in the company, valued at $3,930,491.24. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Gossman sold 15,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $44.36, for a total transaction of $665,400.00. Following the completion of the transaction, the director directly owned 100,251 shares in the company, valued at $4,447,134.36. This trade represents a 13.02% 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 three months, insiders have sold 616,697 shares of company stock worth $26,999,794. Company insiders own 3.10% of the company’s stock.
Institutional Trading of nLight
Several hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP raised its stake in nLight by 0.7% in the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company’s stock valued at $2,384,000 after acquiring an additional 281 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of nLight by 67.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,783 shares of the company’s stock worth $102,000 after purchasing an additional 721 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of nLight in the first quarter worth about $52,000. NewEdge Advisors LLC raised its position in shares of nLight by 17.3% in the first quarter. NewEdge Advisors LLC now owns 7,039 shares of the company’s stock valued at $401,000 after purchasing an additional 1,036 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of nLight by 7,871.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after purchasing an additional 1,102 shares during the period. Institutional investors own 83.88% of the company’s stock.
About nLight
nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.
The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.
Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.
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