nLight (NASDAQ:LASR) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of nLight (NASDAQ:LASR) have earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $32.6667.

Several research analysts recently commented on the company. Needham & Company LLC raised their target price on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Stifel Nicolaus increased their price objective on shares of nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. Benchmark lifted their target price on shares of nLight from $15.00 to $25.00 and gave the company a “speculative buy” rating in a research report on Friday, August 8th. Finally, Zacks Research raised shares of nLight from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th.

nLight Trading Up 0.5%

nLight stock opened at $30.50 on Friday. The business has a 50 day moving average price of $30.92 and a two-hundred day moving average price of $23.32. The company has a quick ratio of 4.41, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -34.66 and a beta of 2.48. nLight has a 12 month low of $6.20 and a 12 month high of $38.62.

Insider Activity

In other news, Director Raymond A. Link sold 12,560 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the transaction, the director directly owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. This represents a 10.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph John Corso sold 3,588 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $29.73, for a total value of $106,671.24. Following the transaction, the chief financial officer owned 265,418 shares of the company’s stock, valued at $7,890,877.14. This trade represents a 1.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 386,427 shares of company stock worth $11,064,495. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On nLight

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 924 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of nLight by 1,599.1% in the second 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 in the last quarter. Global Retirement Partners LLC bought a new position in shares of nLight in the third quarter valued at about $49,000. Nisa Investment Advisors LLC lifted its position in nLight by 162.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after buying an additional 1,700 shares in the last quarter. Finally, Militia Capital Partners LP bought a new stake in nLight during the 2nd quarter worth about $71,000. 83.88% of the stock is currently owned by institutional investors.

About nLight

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.