nLIGHT's (LASR) Speculative Buy Rating Reaffirmed at Benchmark

Benchmark restated their speculative buy rating on shares of nLIGHT (NASDAQ:LASR - Free Report) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $17.00 price target on the stock.

Separately, Needham & Company LLC decreased their price objective on shares of nLIGHT from $16.00 to $15.00 and set a buy rating on the stock in a research report on Friday.

nLIGHT Price Performance

Shares of LASR stock traded up $0.58 during midday trading on Friday, reaching $12.14. 240,222 shares of the company traded hands, compared to its average volume of 178,665. The firm's 50 day simple moving average is $12.24 and its two-hundred day simple moving average is $12.25. The firm has a market cap of $577.38 million, a PE ratio of -13.49 and a beta of 2.42. nLIGHT has a 1-year low of $8.13 and a 1-year high of $15.91.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. The firm had revenue of $51.89 million during the quarter, compared to analysts' expectations of $48.08 million. nLIGHT had a negative return on equity of 15.03% and a negative net margin of 19.85%. As a group, research analysts anticipate that nLIGHT will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Joseph John Corso sold 14,105 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $12.26, for a total value of $172,927.30. Following the sale, the chief financial officer now directly owns 146,601 shares in the company, valued at $1,797,328.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of nLIGHT

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of nLIGHT during the third quarter worth $205,000. Raymond James & Associates grew its holdings in nLIGHT by 21.5% in the 3rd quarter. Raymond James & Associates now owns 170,234 shares of the company's stock valued at $1,770,000 after buying an additional 30,135 shares during the period. Bank of New York Mellon Corp increased its stake in shares of nLIGHT by 12.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,357,028 shares of the company's stock valued at $24,513,000 after acquiring an additional 269,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of nLIGHT by 91.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company's stock worth $91,000 after acquiring an additional 4,174 shares during the period. Finally, Cable Hill Partners LLC acquired a new stake in shares of nLIGHT in the third quarter worth approximately $123,000. Institutional investors and hedge funds own 83.88% of the company's stock.

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.