nLight (NASDAQ:LASR) Stock Price Up 21.6% - What's Next?

Key Points

• nLight shares jumped 21.6% on Thursday, trading as high as $67.50 before last changing hands at $71.33, well below the session’s elevated early peak but far above the prior close of $58.68.
• Analyst sentiment remains upbeat, with several firms raising price targets and issuing or reaffirming Buy/Strong Buy ratings. MarketBeat data shows a consensus Buy rating and an average price target of $75.50.
• The company’s latest earnings beat expectations, posting $0.20 EPS versus the $0.08 estimate and revenue of $80.18 million, up 55.2% year over year. Despite that strength, insiders have sold shares in recent months, while institutional investors still own 83.88% of the stock.

nLight (NASDAQ:LASR - Get Free Report)'s stock price shot up 21.6% during trading on Thursday . The company traded as high as $67.50 and last traded at $71.3320. 391,842 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,459,417 shares. The stock had previously closed at $58.68.

Analyst Ratings Changes

LASR has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on nLight from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. William Blair initiated coverage on shares of nLight in a research report on Friday, March 27th. They issued an "outperform" rating on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $100.00 target price on shares of nLight in a research note on Friday, May 8th. Zacks Research upgraded shares of nLight from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Needham & Company LLC boosted their price target on shares of nLight from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, nLight presently has a consensus rating of "Buy" and an average price target of $75.50.

nLight Price Performance

The stock has a 50 day moving average price of $70.07 and a two-hundred day moving average price of $60.23. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -251.13 and a beta of 2.30.

nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.12. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The firm had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company's quarterly revenue was up 55.2% compared to the same quarter last year. As a group, research analysts expect that nLight will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO James Nias sold 940 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total value of $73,310.60. Following the completion of the transaction, the chief accounting officer owned 97,621 shares of the company's stock, valued at approximately $7,613,461.79. This trade represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph John Corso sold 3,817 shares of nLight stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $72.90, for a total transaction of $278,259.30. Following the completion of the transaction, the chief financial officer owned 169,915 shares of the company's stock, valued at $12,386,803.50. This trade represents a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 391,038 shares of company stock worth $28,367,419 over the last three months. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On nLight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in shares of nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after acquiring an additional 1,727 shares during the period. Sunbelt Securities Inc. boosted its holdings in nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock valued at $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after purchasing an additional 647 shares during the period. Financial Consulate Inc. acquired a new position in nLight during the 4th quarter worth $41,000. Finally, Wexford Capital LP acquired a new position in nLight during the 3rd quarter worth $41,000. Hedge funds and other institutional investors 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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.