nLight (NASDAQ:LASR) Given Average Rating of “Moderate Buy” by Brokerages

nLight (NASDAQ:LASR) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $38.4286.

A number of analysts have commented on the stock. Cantor Fitzgerald upped their target price on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Needham & Company LLC raised their price objective on nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Finally, Stifel Nicolaus started coverage on nLight in a research note on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective for the company.

nLight Price Performance

Shares of NASDAQ:LASR opened at $47.11 on Friday. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.39 billion, a PE ratio of -53.53 and a beta of 2.33. The firm’s 50 day moving average price is $38.91 and its 200-day moving average price is $31.73. nLight has a twelve month low of $6.20 and a twelve month high of $48.31.

Insider Activity

In related news, Director Raymond A. Link sold 12,560 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total transaction of $443,744.80. Following the completion of the sale, the director owned 102,576 shares in the company, valued at approximately $3,624,010.08. This trade represents a 10.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO James Nias sold 1,200 shares of nLight stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $30.00, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 141,262 shares of company stock valued at $5,101,910. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nLight

Hedge funds have recently modified their holdings of the stock. Pictet Asset Management Holding SA bought a new stake in nLight in the 4th quarter valued at $335,000. Cornerstone Investment Partners LLC bought a new stake in shares of nLight in the fourth quarter worth about $229,000. Vanguard Group Inc. lifted its position in shares of nLight by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock worth $187,166,000 after buying an additional 125,446 shares in the last quarter. NBC Securities Inc. lifted its position in shares of nLight by 139.2% in the fourth quarter. NBC Securities Inc. now owns 3,627 shares of the company’s stock worth $136,000 after buying an additional 2,111 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in nLight during the fourth quarter valued at approximately $788,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

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.