nLight (NASDAQ:LASR) Sets New 1-Year High on Strong Earnings

Key Points

• nLight's share price climbed to a new 52-week high of $26.21 on strong earnings, outperforming analysts' estimates with a reported EPS of $0.06 and revenue of $61.74 million.
• Analysts have responded positively, with Craig Hallum raising its price target from $14.00 to $24.00 and Needham increasing theirs from $18.00 to $28.00, both maintaining "buy" ratings.
• Insider trading activity included CEO Scott H. Keeney selling 33,682 shares, while institutional ownership of nLight stocks stands at 83.88%, indicating strong institutional interest.

nLight (NASDAQ:LASR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $26.21 and last traded at $24.64, with a volume of 46186 shares. The stock had previously closed at $20.47.

The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.15. The business had revenue of $61.74 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS.

Wall Street Analyst Weigh In

LASR has been the topic of several recent analyst reports. Craig Hallum reissued a "buy" rating and issued a $24.00 target price (up from $14.00) on shares of nLight in a research note on Thursday, June 26th. Needham & Company LLC boosted their price target on shares of nLight from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Friday.

Insider Buying and Selling

In other nLight news, 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 transaction of $657,809.46. Following the sale, the chief executive officer directly owned 1,206,540 shares in the company, valued at approximately $23,563,726.20. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph John Corso sold 10,062 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $17.62, for a total value of $177,292.44. Following the transaction, the chief financial officer directly owned 166,362 shares in the company, valued at approximately $2,931,298.44. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,915 shares of company stock worth $3,445,301. Corporate insiders own 4.70% of the company's stock.

Institutional Trading of nLight

Several large investors have recently added to or reduced their stakes in LASR. Senvest Management LLC grew its position 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 worth $26,033,000 after purchasing an additional 1,322,637 shares in the last quarter. Invenomic Capital Management LP purchased a new position in nLight during the first quarter valued at $6,763,000. Segall Bryant & Hamill LLC increased its holdings in nLight by 140.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock valued at $9,383,000 after acquiring an additional 705,215 shares during the last quarter. AIGH Capital Management LLC bought a new stake in nLight in the 2nd quarter valued at $11,810,000. Finally, Needham Investment Management LLC lifted its stake in nLight by 13.4% in the 4th quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock worth $27,821,000 after purchasing an additional 314,375 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.

nLight Price Performance

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's fifty day simple moving average is $18.84 and its 200 day simple moving average is $12.87. The firm has a market cap of $1.19 billion, a P/E ratio of -21.34 and a beta of 2.35.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.