nLight (NASDAQ:LASR) Downgraded to Hold Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of nLight (NASDAQ:LASR – Free Report) from a buy rating to a hold rating in a research note released on Sunday.

A number of other research firms have also commented on LASR. Cantor Fitzgerald lifted their price objective on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Roth Mkm upped their price objective on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Needham & Company LLC increased their price objective on nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Canaccord Genuity Group raised nLight to a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, nLight has an average rating of “Moderate Buy” and an average target price of $40.00.

Check Out Our Latest Report on LASR

nLight Price Performance

Shares of NASDAQ LASR opened at $51.12 on Friday. The stock has a market cap of $2.60 billion, a P/E ratio of -58.09 and a beta of 2.33. nLight has a twelve month low of $6.20 and a twelve month high of $51.34. The stock has a 50 day moving average of $40.60 and a two-hundred day moving average of $33.10. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09.

Insider Activity at nLight

In related news, CEO Scott H. Keeney sold 31,748 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the transaction, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at $85,711,100.20. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James Nias sold 1,200 shares of nLight stock in a transaction on Friday, November 21st. The stock was sold at an average price of $30.00, for a total value of $36,000.00. Following the transaction, the chief accounting officer directly owned 99,512 shares of the company’s stock, valued at approximately $2,985,360. This represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 141,262 shares of company stock valued at $5,101,910. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LASR. Osaic Holdings Inc. grew its stake in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after acquiring an additional 647 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of nLight in the fourth quarter valued at about $41,000. Wexford Capital LP purchased a new stake in shares of nLight in the third quarter valued at about $41,000. Finally, SBI Securities Co. Ltd. grew its position in shares of nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

About nLight

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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.

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