nLight (NASDAQ:LASR - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after Needham & Company LLC raised their price target on the stock from $14.00 to $18.00. Needham & Company LLC currently has a buy rating on the stock. nLight traded as high as $19.64 and last traded at $19.42, with a volume of 139591 shares traded. The stock had previously closed at $18.29.
Separately, Craig Hallum raised shares of nLight from a "hold" rating to a "buy" rating and set a $14.00 price objective for the company in a report on Friday, May 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $17.70.
View Our Latest Stock Analysis on nLight
Insider Buying and Selling at nLight
In related news, CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $17.62, for a total transaction of $177,292.44. Following the sale, the chief financial officer now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott H. Keeney sold 6,316 shares of nLight stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $19.13, for a total transaction of $120,825.08. Following the sale, the chief executive officer now owns 1,240,222 shares in the company, valued at approximately $23,725,446.86. This represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,233 shares of company stock worth $2,787,492. 6.10% of the stock is owned by insiders.
Institutional Investors Weigh In On nLight
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of nLight by 2.1% during the first quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company's stock valued at $28,495,000 after purchasing an additional 74,163 shares in the last quarter. Royce & Associates LP raised its stake in shares of nLight by 5.4% during the first quarter. Royce & Associates LP now owns 3,034,044 shares of the company's stock valued at $23,575,000 after purchasing an additional 156,285 shares in the last quarter. Needham Investment Management LLC raised its stake in shares of nLight by 13.4% during the fourth quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock valued at $27,821,000 after purchasing an additional 314,375 shares in the last quarter. Senvest Management LLC raised its stake in shares of nLight by 114.1% during the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock valued at $26,033,000 after purchasing an additional 1,322,637 shares in the last quarter. Finally, AWM Investment Company Inc. raised its stake in shares of nLight by 29.5% during the first quarter. AWM Investment Company Inc. now owns 1,319,917 shares of the company's stock valued at $10,256,000 after purchasing an additional 300,924 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.
nLight Trading Up 0.2%
The business's 50 day moving average is $13.79 and its two-hundred day moving average is $11.09. 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 firm has a market capitalization of $970.51 million, a P/E ratio of -17.37 and a beta of 2.26.
nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.13. The firm had revenue of $51.67 million for 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. Analysts expect that nLight will post -1.1 EPS for the current year.
nLight Company Profile
(
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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