nLIGHT (NASDAQ:LASR) Sets New 1-Year High - What's Next?

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report)'s stock price reached a new 52-week high during trading on Saturday . The stock traded as high as $14.82 and last traded at $14.49, with a volume of 1687892 shares traded. The stock had previously closed at $14.22.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upgraded shares of nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 target price on the stock in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $14.90.

nLIGHT Trading Up 6.8%

The stock has a market cap of $765.32 million, a price-to-earnings ratio of -15.03 and a beta of 2.02. The stock's 50-day moving average price is $9.03 and its 200-day moving average price is $9.98.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. The firm had revenue of $51.67 million for the quarter, compared to the consensus estimate of $47.77 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The company's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total transaction of $437,184.87. Following the transaction, the chief executive officer now owns 1,267,927 shares in the company, valued at $10,358,963.59. The trade was a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 57,184 shares of company stock worth $475,534 in the last quarter. Company insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Stifel Financial Corp lifted its position in shares of nLIGHT by 11.1% during the 4th quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock valued at $1,675,000 after acquiring an additional 15,904 shares during the period. Raymond James Financial Inc. acquired a new position in nLIGHT during the fourth quarter worth $1,976,000. Stephens Investment Management Group LLC raised its holdings in nLIGHT by 20.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company's stock worth $9,932,000 after buying an additional 162,903 shares during the last quarter. Franklin Resources Inc. raised its holdings in nLIGHT by 145.0% during the fourth quarter. Franklin Resources Inc. now owns 64,295 shares of the company's stock worth $674,000 after buying an additional 38,050 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in nLIGHT during the fourth quarter worth $444,000. Institutional investors and hedge funds own 83.88% of the company's stock.

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.