nLight (NASDAQ:LASR) Sets New 52-Week High - Here's Why

nLight (NASDAQ:LASR - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $20.36 and last traded at $19.54, with a volume of 615825 shares. The stock had previously closed at $19.96.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LASR shares. Craig Hallum reissued a "buy" rating and issued a $24.00 target price (up previously from $14.00) on shares of nLight in a research note on Thursday, June 26th. Needham & Company LLC boosted their price target on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, nLight currently has a consensus rating of "Buy" and a consensus target price of $17.70.

nLight Stock Performance

The stock's 50 day simple moving average is $17.36 and its two-hundred day simple moving average is $12.12. The company has a quick ratio of 4.63, a current ratio of 5.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $963.59 million, a PE ratio of -17.25 and a beta of 2.33.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. The business had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. nLight had a negative net margin of 26.80% and a negative return on equity of 22.23%. nLight's revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, research analysts anticipate that nLight will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In other nLight news, CFO Joseph John Corso sold 10,062 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $17.62, for a total value of $177,292.44. Following the transaction, the chief financial officer directly owned 166,362 shares in the company, valued at $2,931,298.44. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott H. Keeney sold 33,682 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $19.53, for a total transaction of $657,809.46. Following the completion of the sale, the chief executive officer directly owned 1,206,540 shares in the company, valued at approximately $23,563,726.20. This trade represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,915 shares of company stock worth $3,445,301 in the last 90 days. Company insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Stifel Financial Corp increased its position in nLight by 11.1% in the fourth quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock worth $1,675,000 after purchasing an additional 15,904 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of nLight by 72.0% during the 4th quarter. Bank of America Corp DE now owns 209,644 shares of the company's stock valued at $2,199,000 after purchasing an additional 87,788 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in nLight by 140.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock worth $9,383,000 after acquiring an additional 705,215 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of nLight during the 4th quarter valued at about $1,976,000. Finally, Moody National Bank Trust Division lifted its position in shares of nLight by 345.1% during the first quarter. Moody National Bank Trust Division now owns 48,757 shares of the company's stock worth $379,000 after purchasing an additional 37,803 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

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.