Shares of nLight (NASDAQ:LASR - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $20.36 and last traded at $19.54, with a volume of 615825 shares traded. The stock had previously closed at $19.96.
Analysts Set New Price Targets
LASR has been the subject of a number of analyst reports. Needham & Company LLC lifted their target price on shares of nLight from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Craig Hallum reiterated a "buy" rating and set a $24.00 price target (up previously from $14.00) on shares of nLight in a research note on Thursday, June 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $17.70.
View Our Latest Report on LASR
nLight Price Performance
The company's 50 day moving average price is $17.49 and its 200 day moving average price is $12.17. The company has a market cap of $960.67 million, a price-to-earnings ratio of -17.17 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81.
nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.13. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The company had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. During the same period in the prior year, the business posted ($0.17) EPS. nLight's revenue was up 16.2% on a year-over-year basis. On average, equities research analysts predict that nLight will post -1.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Joseph John Corso sold 10,062 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $17.62, for a total value of $177,292.44. Following the sale, the chief financial officer owned 166,362 shares in the company, valued at approximately $2,931,298.44. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 33,682 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $19.53, for a total value of $657,809.46. Following the transaction, the chief executive officer owned 1,206,540 shares in the company, valued at $23,563,726.20. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,915 shares of company stock valued at $3,445,301. 4.70% of the stock is owned by company insiders.
Institutional Trading of nLight
Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company's stock valued at $31,000 after buying an additional 924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of nLight by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock worth $277,000 after acquiring an additional 1,140 shares during the period. XTX Topco Ltd lifted its holdings in nLight by 7.2% during the 4th quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock worth $257,000 after purchasing an additional 1,641 shares in the last quarter. Swiss National Bank increased its position in shares of nLight by 1.9% during the 4th quarter. Swiss National Bank now owns 90,000 shares of the company's stock valued at $944,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of nLight by 17.6% during the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after purchasing an additional 1,772 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.
About nLight
(
Get Free Report)
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.
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