nLight (NASDAQ:LASR) Now Covered by Analysts at Roth Capital

Roth Capital assumed coverage on shares of nLight (NASDAQ:LASR) in a report issued on Wednesday, MarketBeat reports. The firm issued a buy rating and a $44.00 price target on the stock.

A number of other brokerages also recently issued reports on LASR. Canaccord Genuity Group raised nLight to a “buy” rating in a report on Wednesday. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Stifel Nicolaus lifted their price target on shares of nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Finally, Needham & Company LLC upped their price objective on shares of nLight from $32.00 to $39.00 and gave the company a “buy” 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, nLight has a consensus rating of “Moderate Buy” and an average price target of $34.29.

nLight Trading Down 2.2%

NASDAQ:LASR opened at $34.66 on Wednesday. nLight has a 1 year low of $6.20 and a 1 year high of $38.63. The stock has a market cap of $1.76 billion, a P/E ratio of -39.39 and a beta of 2.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. The stock has a 50-day simple moving average of $32.87 and a 200-day simple moving average of $26.86.

Insider Buying and Selling at nLight

In other news, CEO Scott H. Keeney sold 15,371 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $35.66, for a total value of $548,129.86. Following the completion of the sale, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at approximately $81,483,813.20. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James Nias sold 1,200 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the sale, the chief accounting officer owned 99,512 shares of the company’s stock, valued at $2,985,360. This trade represents a 1.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 109,514 shares of company stock worth $3,911,043 in the last quarter. 4.70% of the stock is currently owned by company insiders.

Institutional Trading of nLight

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 924 shares during the last quarter. Osaic Holdings Inc. lifted its holdings 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 purchasing an additional 1,727 shares during the period. Wexford Capital LP purchased a new position in nLight in the 3rd quarter valued at $41,000. Global Retirement Partners LLC acquired a new position in nLight in the 3rd quarter valued at $49,000. Finally, Nisa Investment Advisors LLC raised its position in nLight by 162.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after buying an additional 1,700 shares during the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

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.