nLight (NASDAQ:LASR) Sets New 1-Year High - Still a Buy?

Key Points

• nLight's stock achieved a new 52-week high, reaching $20.79 during trading, ultimately closing at $20.34 with significant trading volume of 409,353 shares.
• Analyst price targets for nLight have substantially increased, with Craig Hallum raising their target to $24.00 and Needham & Company boosting theirs to $18.00, indicating strong bullish sentiment.
• Insider trading activity included the CFO selling over 10,000 shares, valuing approximately $177,292, while overall, company insiders have sold 201,915 shares worth about $3.45 million in the past 90 days.

nLight (NASDAQ:LASR - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $20.79 and last traded at $20.34, with a volume of 409353 shares changing hands. The stock had previously closed at $19.34.

Analysts Set New Price Targets

Several equities analysts have issued reports on LASR shares. Craig Hallum reaffirmed a "buy" rating and set a $24.00 price objective (up previously from $14.00) on shares of nLight in a report on Thursday, June 26th. Needham & Company LLC raised their price objective on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nLight presently has a consensus rating of "Buy" and an average target price of $17.70.

nLight Price Performance

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 company's 50 day moving average is $18.42 and its 200 day moving average is $12.60. The stock has a market cap of $994.24 million, a price-to-earnings ratio of -17.80 and a beta of 2.35.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.13. The firm had revenue of $51.67 million during 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%. The business's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.17) earnings per share. Research analysts forecast that nLight will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at nLight

In related news, CEO Scott H. Keeney sold 33,682 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $19.53, for a total value of $657,809.46. Following the completion of the sale, the chief executive officer directly owned 1,206,540 shares in the company, valued at approximately $23,563,726.20. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 10,062 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $17.62, for a total transaction of $177,292.44. Following the completion of the sale, the chief financial officer owned 166,362 shares of the company's stock, 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. Over the last quarter, insiders have sold 201,915 shares of company stock valued at $3,445,301. Insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On nLight

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company's stock worth $31,000 after buying an additional 924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of nLight by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock valued at $277,000 after acquiring an additional 1,140 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of nLight by 7.2% in the fourth quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock worth $257,000 after buying an additional 1,641 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company's stock worth $54,000 after purchasing an additional 1,700 shares during the period. Finally, Sei Investments Co. boosted its position in shares of nLight by 4.3% in the fourth quarter. Sei Investments Co. now owns 44,691 shares of the company's stock valued at $469,000 after acquiring an additional 1,861 shares during the period. 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.