Brokerages Set nLight (NASDAQ:LASR) Target Price at $34.29

nLight (NASDAQ:LASR) has received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.2857.

A number of equities research analysts recently weighed in on the company. Roth Capital assumed coverage on nLight in a research report on Wednesday, December 17th. They set a “buy” rating and a $44.00 price objective on the stock. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Needham & Company LLC boosted their price objective 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. Finally, Canaccord Genuity Group raised shares of nLight to a “buy” rating in a research report on Wednesday, December 17th.

nLight Stock Down 0.4%

Shares of NASDAQ LASR opened at $37.55 on Monday. nLight has a 12-month low of $6.20 and a 12-month high of $39.99. The stock’s fifty day simple moving average is $34.93 and its two-hundred day simple moving average is $29.02. The stock has a market capitalization of $1.91 billion, a PE ratio of -42.67 and a beta of 2.33. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In other news, CFO Joseph John Corso sold 66,075 shares of the firm’s stock in a transaction 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 $7,126,855.68. This trade represents a 25.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James Nias sold 1,200 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were 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 in the company, valued at $2,985,360. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 109,514 shares of company stock worth $3,911,043. 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. State of Wyoming boosted its stake in nLight by 110.6% in the 1st quarter. State of Wyoming now owns 14,762 shares of the company’s stock worth $115,000 after purchasing an additional 7,754 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of nLight by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after buying an additional 66,518 shares during the period. Strs Ohio purchased a new stake in shares of nLight during the first quarter valued at $371,000. Finally, GAMMA Investing LLC increased its position in shares of nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after acquiring an additional 924 shares during the period. Institutional investors and hedge funds 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.