nLight (NASDAQ:LASR) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded nLight from “strong buy” to “hold,” although the broader analyst consensus remains “moderate buy” with an average price target of $80.94.
• nLight shares opened at $75.25 and were down 2.5%, while the company’s latest quarterly results exceeded expectations: EPS came in at $0.20 versus $0.08 expected, and revenue rose 55.2% year over year to $80.18 million.
• Insiders sold 391,038 shares worth approximately $28.4 million over the past 90 days, including sales by the CEO and CFO; the transactions were made under pre-arranged plans to cover tax obligations.

nLight (NASDAQ:LASR - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

LASR has been the topic of several other research reports. Stifel Nicolaus raised their price objective on nLight from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Wall Street Zen cut nLight from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 price target on shares of nLight in a report on Friday, May 8th. UBS Group set a $90.00 price target on nLight in a research report on Friday, July 10th. Finally, Roth Capital reiterated a "buy" rating and set a $81.00 price objective on shares of nLight in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.94.

nLight Trading Down 2.5%

nLight stock opened at $75.25 on Tuesday. The company's 50-day moving average is $68.13 and its two-hundred day moving average is $64.51. nLight has a 1 year low of $19.45 and a 1 year high of $86.95. The company has a market cap of $4.24 billion, a PE ratio of -250.82 and a beta of 2.31.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The firm had revenue of $80.18 million for the quarter, compared to analysts' expectations of $72.14 million. During the same period last year, the firm earned ($0.04) earnings per share. The business's revenue for the quarter was up 55.2% on a year-over-year basis. Research analysts forecast that nLight will post -0.17 EPS for the current year.

Insider Activity

In related news, CFO Joseph John Corso sold 35,476 shares of nLight stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $70.40, for a total value of $2,497,510.40. Following the sale, the chief financial officer owned 177,572 shares of the company's stock, valued at approximately $12,501,068.80. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 46,735 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total value of $3,200,412.80. Following the transaction, the chief executive officer directly owned 2,375,519 shares in the company, valued at $162,675,541.12. This trade represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 391,038 shares of company stock valued at $28,367,419 in the last 90 days. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of nLight in the first quarter valued at $52,000. Sunbelt Securities Inc. increased its stake in nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after acquiring an additional 647 shares during the period. Financial Consulate Inc. bought a new stake in shares of nLight during the 4th quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock worth $42,000 after buying an additional 1,102 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

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.

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