nLight (NASDAQ:LASR) Given Consensus Recommendation of “Moderate Buy” by Analysts

nLight (NASDAQ:LASR) has earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.00.

LASR has been the topic of several research reports. Stifel Nicolaus began coverage on shares of nLight in a report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective on the stock. Wall Street Zen cut shares of nLight from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Cantor Fitzgerald increased their price objective on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC raised their target price on nLight from $39.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 13th.

nLight Trading Down 2.3%

NASDAQ LASR opened at $54.70 on Tuesday. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. nLight has a 52 week low of $6.20 and a 52 week high of $59.00. The business has a 50 day moving average price of $44.48 and a 200-day moving average price of $35.69. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -62.16 and a beta of 2.33.

Insiders Place Their Bets

In related news, CFO Joseph John Corso sold 66,075 shares of the business’s 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 transaction, the chief financial officer directly owned 196,224 shares in the company, valued at approximately $7,126,855.68. The trade was a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott H. Keeney sold 31,748 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the completion of the sale, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,502 shares of company stock worth $4,622,166 over the last ninety days. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLight

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings 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 acquiring an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. boosted its position in nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during 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 purchasing an additional 647 shares during the period. Financial Consulate Inc. purchased a new stake in shares of nLight during the 4th quarter valued at $41,000. Finally, Wexford Capital LP bought a new stake in shares of nLight during the 3rd quarter worth $41,000. 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.