nLight (NASDAQ:LASR) Receives $32.67 Consensus PT from Brokerages

nLight (NASDAQ:LASR) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $32.6667.

LASR has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. Cantor Fitzgerald upped their target price on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC boosted their price objective on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Benchmark increased their price objective on nLight from $15.00 to $25.00 and gave the stock a “speculative buy” rating in a report on Friday, August 8th.

Insider Transactions at nLight

In other news, CEO Scott H. Keeney sold 62,507 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $30.99, for a total transaction of $1,937,091.93. Following the transaction, the chief executive officer directly owned 2,319,038 shares of the company’s stock, valued at approximately $71,866,987.62. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the company’s 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 directly owned 102,576 shares of the company’s stock, valued at $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 sold 306,772 shares of company stock valued at $8,978,302. 6.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Invenomic Capital Management LP bought a new stake in shares of nLight in the 1st quarter worth $6,763,000. Invesco Ltd. boosted its stake in nLight by 377.2% during the third quarter. Invesco Ltd. now owns 1,057,281 shares of the company’s stock valued at $31,327,000 after buying an additional 835,720 shares in the last quarter. Portolan Capital Management LLC acquired a new position in nLight during the third quarter worth about $22,809,000. Vanguard Group Inc. raised its position in nLight by 18.2% in the third quarter. Vanguard Group Inc. now owns 4,864,312 shares of the company’s stock worth $144,130,000 after acquiring an additional 747,958 shares in the last quarter. Finally, AIGH Capital Management LLC bought a new stake in nLight in the second quarter worth about $11,810,000. 83.88% of the stock is currently owned by institutional investors.

nLight Stock Performance

LASR stock opened at $28.60 on Friday. 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 stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -32.50 and a beta of 2.48. nLight has a 1 year low of $6.20 and a 1 year high of $38.62. The stock’s fifty day moving average is $30.93 and its two-hundred day moving average is $23.73.

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.