nLight (NASDAQ:LASR) Sets New 1-Year High – Here’s What Happened

Shares of nLight (NASDAQ:LASR) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $55.88 and last traded at $55.1670, with a volume of 12615 shares traded. The stock had previously closed at $54.84.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised nLight to a “buy” rating in a report on Wednesday, December 17th. Cantor Fitzgerald upped their target price on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Roth Mkm raised their price target on shares of nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Stifel Nicolaus started coverage on shares of nLight in a research note on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

nLight Trading Down 0.3%

The firm has a market cap of $2.66 billion, a PE ratio of -59.41 and a beta of 2.33. The company has a 50-day simple moving average of $42.47 and a 200 day simple moving average of $34.09. 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 other news, CAO James Nias sold 1,200 shares of the firm’s 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 directly owned 99,512 shares in the company, valued at $2,985,360. This trade represents a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of nLight stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the transaction, the chief financial officer owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This represents a 25.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 128,702 shares of company stock worth $4,658,166. 4.70% of the stock is owned by company insiders.

Institutional Trading of nLight

Several institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in shares of nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after buying an additional 1,727 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after acquiring an additional 647 shares during the period. Financial Consulate Inc. purchased a new stake in nLight in the 4th quarter worth $41,000. Wexford Capital LP acquired a new position in nLight during the third quarter worth $41,000. Finally, SBI Securities Co. Ltd. raised its position in nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock worth $46,000 after acquiring an additional 223 shares during the period. 83.88% of the stock is owned by institutional investors and hedge funds.

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. 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.