Zacks Investment Research cut shares of Nlight (NASDAQ:LASR) from a buy rating to a hold rating in a report released on Saturday, Zacks.com reports.
According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber laser. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “
A number of other research firms also recently commented on LASR. Piper Jaffray Companies started coverage on shares of Nlight in a report on Friday, December 20th. They issued an overweight rating and a $25.00 price objective for the company. ValuEngine downgraded shares of Nlight from a buy rating to a hold rating in a report on Saturday, January 4th. Finally, Needham & Company LLC increased their price objective on shares of Nlight from $16.00 to $19.00 and gave the company a buy rating in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $20.17.
LASR stock opened at $21.08 on Friday. The company has a market cap of $795.96 million, a price-to-earnings ratio of 65.88 and a beta of 2.41. Nlight has a 12 month low of $12.60 and a 12 month high of $26.77. The firm has a 50-day moving average of $19.97 and a two-hundred day moving average of $16.74.
Nlight (NASDAQ:LASR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The business had revenue of $43.80 million during the quarter, compared to analyst estimates of $43.92 million. Nlight had a net margin of 0.11% and a return on equity of 0.09%. The firm’s revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, analysts anticipate that Nlight will post -0.2 earnings per share for the current year.
In other news, insider Robert Martinsen sold 24,905 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.45, for a total value of $4,967,302.25. Also, CFO Ran Bareket sold 25,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $20.02, for a total transaction of $500,500.00. Following the completion of the sale, the chief financial officer now directly owns 118,333 shares of the company’s stock, valued at approximately $2,369,026.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,243 shares of company stock valued at $5,920,212. 5.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Nlight in the 3rd quarter valued at approximately $1,527,000. Metropolitan Life Insurance Co NY grew its stake in shares of Nlight by 42.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,755 shares of the company’s stock valued at $168,000 after buying an additional 3,200 shares during the period. State Street Corp grew its stake in shares of Nlight by 10.0% in the 3rd quarter. State Street Corp now owns 611,155 shares of the company’s stock valued at $9,571,000 after buying an additional 55,396 shares during the period. Stifel Financial Corp grew its stake in shares of Nlight by 24.1% in the 3rd quarter. Stifel Financial Corp now owns 15,185 shares of the company’s stock valued at $240,000 after buying an additional 2,947 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Nlight in the 3rd quarter valued at approximately $157,000. 81.26% of the stock is owned by institutional investors and hedge funds.
Nlight Company Profile
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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