Shares of nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $16.22 and last traded at $16.17, with a volume of 701598 shares. The stock had previously closed at $15.59.
Analyst Upgrades and Downgrades
Several research firms have commented on LASR. Needham & Company LLC boosted their target price on shares of nLIGHT from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Craig Hallum raised shares of nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 target price for the company in a research report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $15.70.
Read Our Latest Analysis on LASR
nLIGHT Trading Up 5.3%
The company's fifty day moving average is $10.05 and its 200-day moving average is $10.24. The firm has a market capitalization of $900.28 million, a P/E ratio of -17.68 and a beta of 2.02.
nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.13. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The firm had revenue of $51.67 million during the quarter, compared to the consensus estimate of $47.77 million. During the same period in the prior year, the firm earned ($0.17) EPS. The business's revenue was up 16.2% on a year-over-year basis. On average, equities research analysts anticipate that nLIGHT, Inc. will post -1.1 EPS for the current year.
Insider Buying and Selling at nLIGHT
In other news, CEO Scott H. Keeney sold 40,680 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $16.07, for a total transaction of $653,727.60. Following the completion of the transaction, the chief executive officer now directly owns 1,281,540 shares of the company's stock, valued at approximately $20,594,347.80. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 116,853 shares of company stock valued at $1,818,727 in the last ninety days. Company insiders own 4.70% of the company's stock.
Hedge Funds Weigh In On nLIGHT
Hedge funds and other institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management lifted its holdings in shares of nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock worth $30,000 after acquiring an additional 935 shares during the period. GAMMA Investing LLC lifted its holdings in shares of nLIGHT by 6,563.0% during the 1st quarter. GAMMA Investing LLC now owns 4,864 shares of the company's stock worth $38,000 after acquiring an additional 4,791 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of nLIGHT by 3,951.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock worth $39,000 after acquiring an additional 3,596 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of nLIGHT during the 4th quarter worth about $102,000. Finally, State of Wyoming lifted its holdings in shares of nLIGHT by 110.6% during the 1st quarter. State of Wyoming now owns 14,762 shares of the company's stock worth $115,000 after acquiring an additional 7,754 shares during the period. 83.88% of the stock is owned by institutional investors.
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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