Stifel Nicolaus Reaffirms “Buy” Rating for nLight (NASDAQ:LASR)

nLight (NASDAQ:LASR)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a report issued on Wednesday, MarketBeat.com reports. They presently have a $45.00 target price on the stock, up from their prior target price of $40.00. Stifel Nicolaus’ price target points to a potential upside of 2.67% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Cantor Fitzgerald upped their price target on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Zacks Research cut nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Canaccord Genuity Group upgraded shares of nLight to a “buy” rating in a report on Wednesday, December 17th. Finally, Roth Capital assumed coverage on shares of nLight in a research report on Wednesday, December 17th. They issued a “buy” rating and a $44.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, nLight has a consensus rating of “Moderate Buy” and a consensus price target of $36.29.

nLight Stock Performance

nLight stock opened at $43.83 on Wednesday. The firm has a 50 day simple moving average of $36.18 and a 200-day simple moving average of $29.91. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -49.81 and a beta of 2.33. 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 1-year low of $6.20 and a 1-year high of $46.64.

Insider Transactions at nLight

In other news, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $35.33, for a total transaction of $443,744.80. Following the completion of the transaction, the director directly owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. The trade was a 10.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 141,262 shares of company stock valued at $5,101,910. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On nLight

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew 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 acquiring an additional 924 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in 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 purchasing an additional 1,727 shares during the period. Wexford Capital LP acquired a new position in nLight during 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 increased its holdings 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 purchasing an additional 1,700 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

About nLight

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.