nLight (NASDAQ:LASR) Sets New 12-Month High - Time to Buy?

nLight (NASDAQ:LASR - Get Free Report)'s share price reached 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 Analysts Forecast Growth

A number of analysts have recently issued reports on the company. 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 report on Thursday, June 26th. Needham & Company LLC raised their price target on nLight from $14.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $17.70.

nLight Trading Down 2.1%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81. The firm has a 50-day moving average price of $17.10 and a 200-day moving average price of $12.01. The stock has a market cap of $945.27 million, a PE ratio of -16.92 and a beta of 2.33.

nLight (NASDAQ:LASR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.13. The firm 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%. The firm's revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. As a group, equities analysts anticipate that nLight will post -1.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Scott H. Keeney sold 33,682 shares of the firm's stock in a transaction dated 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. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph John Corso sold 10,062 shares of the firm's stock in a transaction dated 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 directly owned 166,362 shares in the company, valued at approximately $2,931,298.44. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,915 shares of company stock worth $3,445,301. 4.70% of the stock is owned by company insiders.

Institutional Trading of nLight

Institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its stake in shares of 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 boosted its holdings in shares of nLight by 72.0% in the fourth quarter. Bank of America Corp DE now owns 209,644 shares of the company's stock worth $2,199,000 after acquiring an additional 87,788 shares during the period. Raymond James Financial Inc. bought a new position in shares of nLight in the fourth quarter worth $1,976,000. Moody National Bank Trust Division boosted its stake in nLight by 345.1% during the first quarter. Moody National Bank Trust Division now owns 48,757 shares of the company's stock valued at $379,000 after buying an additional 37,803 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its stake in nLight by 140.4% during the first quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock worth $9,383,000 after purchasing an additional 705,215 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

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.