Zacks Investment Research upgraded shares of nLIGHT (NASDAQ:LASR) from a hold rating to a buy rating in a research note issued to investors on Saturday, Zacks.com reports. The firm currently has $35.00 price objective on the stock.
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 equities analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on nLIGHT from $26.00 to $27.00 and gave the stock a buy rating in a report on Thursday, August 6th. Canaccord Genuity lifted their price objective on nLIGHT from $22.00 to $27.00 and gave the company a buy rating in a report on Thursday, August 6th. BidaskClub raised shares of nLIGHT from a sell rating to a hold rating in a report on Thursday, September 17th. Needham & Company LLC lifted their price target on shares of nLIGHT from $26.00 to $33.00 and gave the company a buy rating in a report on Friday, November 6th. Finally, Benchmark restated a hold rating on shares of nLIGHT in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. nLIGHT currently has an average rating of Buy and a consensus target price of $27.57.
Shares of nLIGHT stock opened at $31.45 on Friday. nLIGHT has a 52-week low of $9.03 and a 52-week high of $32.44. The firm has a market capitalization of $1.24 billion, a PE ratio of -43.68 and a beta of 2.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.52 and a quick ratio of 4.16. The company’s fifty day moving average price is $24.54 and its two-hundred day moving average price is $23.08.
nLIGHT (NASDAQ:LASR) last posted its earnings results on Thursday, November 5th. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.11. nLIGHT had a negative net margin of 14.17% and a negative return on equity of 9.17%. The business had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $57.34 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. Analysts predict that nLIGHT will post -0.6 earnings per share for the current fiscal year.
In other news, CEO Scott H. Keeney sold 5,000 shares of the company’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $27.71, for a total transaction of $138,550.00. Also, CEO Scott H. Keeney sold 14,554 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $22.39, for a total value of $325,864.06. The disclosure for this sale can be found here. Insiders have sold 24,554 shares of company stock worth $577,814 over the last quarter. 5.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in LASR. Public Employees Retirement System of Ohio boosted its stake in shares of nLIGHT by 16.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 96,704 shares of the company’s stock valued at $2,271,000 after purchasing an additional 13,537 shares during the last quarter. California State Teachers Retirement System boosted its stake in nLIGHT by 1.9% in the third quarter. California State Teachers Retirement System now owns 52,457 shares of the company’s stock valued at $1,232,000 after acquiring an additional 961 shares during the last quarter. AQR Capital Management LLC acquired a new stake in nLIGHT during the 3rd quarter worth $274,000. Engineers Gate Manager LP acquired a new position in shares of nLIGHT in the 3rd quarter valued at $1,016,000. Finally, Penn Capital Management Co. Inc. grew its stake in shares of nLIGHT by 95.3% during the third quarter. Penn Capital Management Co. Inc. now owns 160,187 shares of the company’s stock worth $3,761,000 after purchasing an additional 78,170 shares during the period. Institutional investors own 81.72% of the company’s stock.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It also produces optical fiber products. The company markets and sells its products to original equipment manufacturers primarily through direct sales force in the United States, China, South Korea, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.
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