nLight (NASDAQ:LASR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of nLight (NASDAQ:LASR) have been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.00.

A number of equities research analysts have commented on LASR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Stifel Nicolaus initiated coverage on nLight in a report on Tuesday, January 20th. They issued a “buy” rating and a $60.00 target price on the stock. Needham & Company LLC increased their target price on shares of nLight from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Cantor Fitzgerald upped their price objective on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th.

Insiders Place Their Bets

In related news, CEO Scott H. Keeney sold 31,748 shares of the firm’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 transaction of $1,190,867.48. Following the completion of the sale, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at $85,711,100.20. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of nLight stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the sale, the chief financial officer owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. The trade was a 25.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 127,502 shares of company stock worth $4,622,166 in the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional Trading of nLight

Several large investors have recently modified their holdings of the stock. Sunbelt Securities Inc. lifted its position in shares of nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its stake in nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of nLight during the fourth quarter valued at about $41,000. SBI Securities Co. Ltd. raised its holdings in shares of nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after purchasing an additional 223 shares during the period. Finally, Wexford Capital LP bought a new position in shares of nLight during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight Price Performance

Shares of NASDAQ:LASR opened at $54.70 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a 52 week low of $6.20 and a 52 week high of $59.00. The firm has a market cap of $2.78 billion, a PE ratio of -62.16 and a beta of 2.33. The firm’s fifty day moving average is $44.48 and its 200-day moving average is $35.69.

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.