ValuEngine upgraded shares of Nlight (NASDAQ:LASR) from a hold rating to a buy rating in a research note published on Thursday, ValuEngine reports.
Several other equities analysts also recently commented on the stock. Needham & Company LLC lowered their target price on shares of Nlight to $21.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Zacks Investment Research downgraded shares of Nlight from a hold rating to a sell rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $25.13.
Shares of NASDAQ:LASR traded down $0.91 during midday trading on Thursday, hitting $14.40. 36,994 shares of the stock were exchanged, compared to its average volume of 483,020. Nlight has a 52-week low of $14.78 and a 52-week high of $35.73. The stock’s fifty day moving average is $17.53. The company has a market cap of $566.55 million, a P/E ratio of 44.97, a PEG ratio of 5.83 and a beta of 2.00.
Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. Nlight had a return on equity of 4.77% and a net margin of 5.13%. The business had revenue of $41.86 million during the quarter, compared to analyst estimates of $42.47 million. During the same period last year, the company earned $0.10 earnings per share. Nlight’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Nlight will post 0.09 EPS for the current fiscal year.
In other news, CFO Ran Bareket sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $25.07, for a total value of $125,350.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Martinsen sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.04, for a total value of $30,060.00. The disclosure for this sale can be found here. Insiders have sold 17,370 shares of company stock worth $388,287 over the last three months. Company insiders own 5.80% of the company’s stock.
Several large investors have recently modified their holdings of LASR. BlackRock Inc. grew its position in shares of Nlight by 188.7% in the fourth quarter. BlackRock Inc. now owns 1,161,739 shares of the company’s stock valued at $20,656,000 after purchasing an additional 759,305 shares during the last quarter. Advisor Group Inc. grew its position in shares of Nlight by 55.3% in the fourth quarter. Advisor Group Inc. now owns 4,578 shares of the company’s stock valued at $81,000 after purchasing an additional 1,631 shares during the last quarter. Citigroup Inc. grew its position in shares of Nlight by 34.0% in the fourth 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 last quarter. Northern Trust Corp grew its position in shares of Nlight by 160.0% in the fourth quarter. Northern Trust Corp now owns 238,609 shares of the company’s stock valued at $4,243,000 after purchasing an additional 146,826 shares during the last quarter. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of Nlight in the fourth quarter valued at about $81,000. 77.58% of the stock is currently owned by institutional investors.
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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