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

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) shares 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 traded. The stock had previously closed at $19.34.

Analysts Set New Price Targets

Several analysts recently weighed in on LASR shares. Craig Hallum restated 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. Needham & Company LLC increased their target price on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nLight currently has an average rating of "Buy" and an average price target of $17.70.

nLight Stock Up 7.0%

The company has a market cap of $1.02 billion, a P/E ratio of -18.29 and a beta of 2.33. The company's 50-day moving average is $17.89 and its two-hundred day moving average is $12.35. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.81 and a quick ratio of 4.63.

nLight (NASDAQ:LASR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. The business had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The company's quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. As a group, equities analysts predict that nLight will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 166,362 shares in the company, valued at $2,931,298.44. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott H. Keeney sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total transaction of $1,149,750.00. Following the transaction, the chief executive officer owned 1,342,927 shares in the company, valued at approximately $20,587,070.91. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,915 shares of company stock worth $3,445,301 in the last 90 days. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On nLight

A number of institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp boosted its position in nLight by 11.1% in the fourth quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock worth $1,675,000 after purchasing an additional 15,904 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of nLight by 72.0% in the fourth quarter. Bank of America Corp DE now owns 209,644 shares of the company's stock worth $2,199,000 after buying an additional 87,788 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in nLight by 140.4% during the first quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock valued at $9,383,000 after buying an additional 705,215 shares during the period. Raymond James Financial Inc. purchased a new stake in nLight during the fourth quarter valued at approximately $1,976,000. Finally, Moody National Bank Trust Division increased its holdings in nLight by 345.1% during the first quarter. Moody National Bank Trust Division now owns 48,757 shares of the company's stock valued at $379,000 after buying an additional 37,803 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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