nLight (NASDAQ:LASR) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of nLight (NASDAQ:LASR – Free Report) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other research firms also recently weighed in on LASR. Roth Mkm began coverage on nLight in a research note on Wednesday, December 17th. They issued a “buy” rating and a $44.00 price target for the company. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a research note on Wednesday, December 17th. Stifel Nicolaus started coverage on shares of nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price target on the stock. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Cantor Fitzgerald boosted their price objective on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Read Our Latest Stock Analysis on LASR

nLight Trading Up 5.4%

nLight stock opened at $48.08 on Friday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -54.64 and a beta of 2.33. The firm has a 50-day moving average of $39.53 and a 200-day moving average of $32.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. nLight has a one year low of $6.20 and a one year high of $49.27.

Insider Activity at nLight

In related news, CEO Scott H. Keeney sold 31,748 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James Nias sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the transaction, the chief accounting officer directly owned 99,512 shares in the company, valued at $2,985,360. This represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 141,262 shares of company stock valued at $5,101,910 in the last 90 days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in nLight by 147.6% during the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after buying an additional 924 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of nLight by 1,599.1% during the 2nd 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. Financial Consulate Inc. acquired a new stake in shares of nLight during the 4th quarter worth approximately $41,000. Wexford Capital LP bought a new position in nLight in the third quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC bought a new position in nLight in the third quarter valued at approximately $49,000. Institutional investors and hedge funds 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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