nLight (NASDAQ:LASR) Cut to Hold at Wall Street Zen

nLight (NASDAQ:LASR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

A number of other analysts have also recently weighed in on LASR. Roth Mkm increased their target price on shares of nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus started coverage on shares of nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective for the company. Cantor Fitzgerald increased their price objective on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Finally, Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

nLight Stock Performance

LASR stock opened at $51.12 on Friday. The stock’s 50 day simple moving average is $40.60 and its 200 day simple moving average is $33.00. nLight has a 12-month low of $6.20 and a 12-month high of $51.34. The firm has a market cap of $2.60 billion, a P/E ratio of -58.09 and a beta of 2.33. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09.

Insider Activity

In other nLight news, CAO James Nias sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $30.00, for a total value of $36,000.00. Following the sale, the chief accounting officer owned 99,512 shares in the company, valued at approximately $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott H. Keeney sold 31,748 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the transaction, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 141,262 shares of company stock worth $5,101,910 over the last ninety days. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LASR. Emerald Mutual Fund Advisers Trust bought a new position in nLight during the 3rd quarter valued at $8,626,000. Federated Hermes Inc. raised its stake in shares of nLight by 161,736.7% in the 3rd quarter. Federated Hermes Inc. now owns 79,300 shares of the company’s stock worth $2,350,000 after buying an additional 79,251 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of nLight in the second quarter valued at $11,810,000. Coldstream Capital Management Inc. boosted its stake in nLight by 48,328.6% during the second quarter. Coldstream Capital Management Inc. now owns 13,560 shares of the company’s stock valued at $267,000 after buying an additional 13,532 shares in the last quarter. Finally, Harvey Partners LLC boosted its stake in nLight by 1.7% during the second quarter. Harvey Partners LLC now owns 2,107,348 shares of the company’s stock valued at $41,473,000 after buying an additional 34,348 shares in the last quarter. Institutional investors own 83.88% of the company’s stock.

nLight Company Profile

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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.