nLight (NASDAQ:LASR) Shares Gap Up – Here’s What Happened

by · The Cerbat Gem

nLight (NASDAQ:LASR – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $41.57, but opened at $44.83. nLight shares last traded at $43.6110, with a volume of 426,827 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Roth Capital initiated coverage on shares of nLight in a research note on Wednesday, December 17th. They set a “buy” rating and a $44.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Canaccord Genuity Group upgraded nLight to a “buy” rating in a research note on Wednesday, December 17th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Needham & Company LLC increased their target price on shares of nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.

Read Our Latest Report on nLight

nLight Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. The stock has a market capitalization of $2.23 billion, a P/E ratio of -49.81 and a beta of 2.33. The company’s 50-day simple moving average is $36.18 and its 200-day simple moving average is $29.91.

Insider Buying and Selling

In other news, Director Raymond A. Link sold 12,560 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the sale, the director owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. This represents a 10.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 31,748 shares of the business’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 transaction of $1,190,867.48. Following the completion of the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at $85,711,100.20. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 141,262 shares of company stock valued at $5,101,910 over the last 90 days. 4.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nLight

Several hedge funds and other institutional investors have recently modified their holdings of LASR. Assenagon Asset Management S.A. raised its position in nLight by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock valued at $661,000 after purchasing an additional 357 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in nLight by 12.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock worth $97,000 after purchasing an additional 561 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in nLight by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,988 shares of the company’s stock worth $354,000 after buying an additional 723 shares during the period. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 924 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of nLight by 45.5% in the third quarter. Larson Financial Group LLC now owns 3,488 shares of the company’s stock worth $103,000 after acquiring an additional 1,091 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

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. 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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