nLight (NASDAQ:LASR) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analyst sentiment is moderately bullish: Eleven analysts give nLight a consensus “Moderate Buy” rating, with a 12-month average price target of $87.94 versus the reported share price of $40.03.
• Quarterly results exceeded expectations: nLight reported EPS of $0.15 against a $0.14 consensus estimate and revenue of $82.59 million, up 33.8% year over year and above the $78.58 million forecast.
• Insiders have been selling shares: Executives and directors sold 616,697 shares worth approximately $27 million over the last quarter, while institutional investors own 83.88% of the stock.

Shares of nLight (NASDAQ:LASR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $87.94.

Several analysts have recently commented on LASR shares. Craig Hallum increased their price objective on nLight from $80.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Weiss Ratings restated a "sell (d-)" rating on shares of nLight in a research note on Friday, July 17th. UBS Group set a $90.00 target price on nLight in a research report on Friday, July 10th. Zacks Research cut nLight from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Needham & Company LLC raised their price target on nLight from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 9th.

nLight Stock Performance

LASR stock opened at $40.03 on Wednesday. nLight has a one year low of $28.05 and a one year high of $86.95. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -160.12 and a beta of 2.37. The firm has a 50-day simple moving average of $46.98 and a two-hundred day simple moving average of $61.15.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The firm had revenue of $82.59 million for the quarter, compared to the consensus estimate of $78.58 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company's quarterly revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts predict that nLight will post -0.19 earnings per share for the current fiscal year.

Insider Activity

In other nLight news, Director William Gossman sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $44.36, for a total transaction of $665,400.00. Following the sale, the director owned 100,251 shares of the company's stock, valued at approximately $4,447,134.36. The trade was a 13.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott H. Keeney sold 181,750 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $46.88, for a total transaction of $8,520,440.00. Following the sale, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $102,434,628.32. This represents a 7.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 616,697 shares of company stock valued at $26,999,794. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On nLight

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock valued at $42,000 after acquiring an additional 1,102 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in nLight in the 1st quarter worth $52,000. Ascentis Independent Advisors acquired a new stake in nLight during the 1st quarter worth about $70,000. Allworth Financial LP acquired a new stake in nLight during the 2nd quarter worth about $81,000. Finally, EverSource Wealth Advisors LLC grew its stake in nLight by 67.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,783 shares of the company's stock valued at $102,000 after purchasing an additional 721 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

About nLight

nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.

The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.

Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.

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