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

nLight (NASDAQ:LASR) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC upped their price target on shares of nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Cantor Fitzgerald boosted their target price on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Roth Capital initiated coverage on nLight in a research report on Wednesday, December 17th. They issued a “buy” rating and a $44.00 target price on the stock. Canaccord Genuity Group raised nLight to a “buy” rating in a research note on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, nLight has a consensus rating of “Moderate Buy” and an average target price of $34.29.

nLight Stock Up 2.3%

nLight stock opened at $38.37 on Friday. nLight has a twelve month low of $6.20 and a twelve month high of $39.99. 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 firm has a market cap of $1.95 billion, a PE ratio of -43.60 and a beta of 2.34. The firm’s 50 day moving average price is $34.63 and its two-hundred day moving average price is $28.54.

Insider Buying and Selling

In related news, 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 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 trade represents a 1.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the sale, the chief financial officer owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This trade represents a 25.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 109,514 shares of company stock worth $3,911,043 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On nLight

A number of institutional investors have recently modified their holdings of LASR. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 924 shares during the last quarter. 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 buying an additional 1,727 shares during the last quarter. Wexford Capital LP bought a new position in nLight in the 3rd quarter worth $41,000. Global Retirement Partners LLC acquired a new position in nLight during the 3rd quarter worth $49,000. Finally, Nisa Investment Advisors LLC lifted 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 acquiring an additional 1,700 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

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.