nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) was up 6.1% during trading on Thursday . The stock traded as high as $18.37 and last traded at $18.36. Approximately 590,041 shares traded hands during trading, an increase of 53% from the average daily volume of 385,411 shares. The stock had previously closed at $17.30.
Analyst Ratings Changes
A number of equities analysts have weighed in on LASR shares. Needham & Company LLC increased their target price on shares of nLIGHT from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Craig Hallum raised shares of nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a research report on Friday, May 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, nLIGHT presently has an average rating of "Buy" and an average target price of $15.70.
Read Our Latest Research Report on LASR
nLIGHT Stock Performance
The business has a 50 day moving average of $10.45 and a 200-day moving average of $10.34. The company has a market capitalization of $870.13 million, a P/E ratio of -17.09 and a beta of 2.02.
nLIGHT (NASDAQ:LASR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.13. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The business had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. The company's quarterly revenue was up 16.2% compared to the same quarter last year. As a group, equities analysts forecast that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.
Insider Activity at nLIGHT
In other nLIGHT news, CEO Scott H. Keeney sold 40,680 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $16.07, for a total value of $653,727.60. Following the completion of the transaction, the chief executive officer now directly owns 1,281,540 shares of the company's stock, valued at $20,594,347.80. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 116,853 shares of company stock valued at $1,818,727. Corporate insiders own 4.70% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its stake in nLIGHT by 47.4% during the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after buying an additional 935 shares during the period. GAMMA Investing LLC raised its holdings in shares of nLIGHT by 6,563.0% in the 1st quarter. GAMMA Investing LLC now owns 4,864 shares of the company's stock valued at $38,000 after acquiring an additional 4,791 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of nLIGHT by 3,951.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock valued at $39,000 after acquiring an additional 3,596 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of nLIGHT during the fourth quarter worth about $102,000. Finally, State of Wyoming grew its holdings in shares of nLIGHT by 110.6% during the first quarter. State of Wyoming now owns 14,762 shares of the company's stock worth $115,000 after purchasing an additional 7,754 shares in the last quarter. Institutional investors own 83.88% of the company's stock.
About nLIGHT
(
Get Free Report)
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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