nLight (NASDAQ:LASR) Price Target Raised to $26.00

Key Points

• Analysts at Stifel Nicolaus raised nLight's price target from $12.00 to $26.00, suggesting a 3.78% potential upside from the current stock price, and maintaining a "buy" rating.
• nLight reported a 22.2% increase in quarterly revenue year-over-year, with earnings per share of $0.06, surpassing analysts' expectations.
• Insider selling was noted as CEO Scott H. Keeney sold 75,000 shares, decreasing his ownership by 5.29%, while other executives also made significant sales during the same period.

nLight (NASDAQ:LASR - Get Free Report) had its price objective raised by analysts at Stifel Nicolaus from $12.00 to $26.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 3.78% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC lifted their target price on nLight from $18.00 to $28.00 and gave the company a "buy" rating in a research note on Friday. Craig Hallum reissued a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of nLight in a research note on Thursday, June 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $23.70.

nLight Trading Up 22.4%

NASDAQ LASR traded up $4.58 on Friday, hitting $25.05. 1,028,849 shares of the company were exchanged, compared to its average volume of 578,609. The company's 50 day moving average price is $18.84 and its 200-day moving average price is $12.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.81 and a quick ratio of 4.63. The firm has a market capitalization of $1.24 billion, a P/E ratio of -22.27 and a beta of 2.35. nLight has a twelve month low of $6.20 and a twelve month high of $27.00.

nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.15. The firm had revenue of $61.74 million for the quarter, compared to the consensus estimate of $55.24 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. Analysts predict that nLight will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Scott H. Keeney sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $15.33, for a total transaction of $1,149,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,342,927 shares in the company, valued at $20,587,070.91. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 10,062 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 166,362 shares of the company's stock, valued at approximately $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,915 shares of company stock valued at $3,445,301. Corporate insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. American Century Companies Inc. grew its position in nLight by 11.1% in the fourth quarter. American Century Companies Inc. now owns 90,206 shares of the company's stock valued at $946,000 after acquiring an additional 9,030 shares during the period. KLP Kapitalforvaltning AS bought a new stake in nLight in the fourth quarter valued at $102,000. Franklin Resources Inc. grew its position in nLight by 145.0% in the fourth quarter. Franklin Resources Inc. now owns 64,295 shares of the company's stock valued at $674,000 after acquiring an additional 38,050 shares during the period. Wells Fargo & Company MN grew its position in nLight by 26.6% in the fourth quarter. Wells Fargo & Company MN now owns 31,227 shares of the company's stock valued at $328,000 after acquiring an additional 6,561 shares during the period. Finally, Russell Investments Group Ltd. grew its position in nLight by 3,951.6% in the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock valued at $39,000 after acquiring an additional 3,596 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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