nLight (NASDAQ:LASR) Stock Price Up 15.4% – Here’s Why

Shares of nLight (NASDAQ:LASR) were up 15.4% during trading on Monday. The stock traded as high as $43.45 and last traded at $43.86. Approximately 1,041,435 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 1,354,172 shares. The stock had previously closed at $38.02.

Wall Street Analyst Weigh In

LASR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Thursday, October 15th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Needham & Company LLC began coverage on nLight in a research report on Tuesday, November 3rd. They set a “buy” rating and a $50.00 target price for the company. Northcoast Research upgraded nLight from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, October 7th. Finally, Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.06.

nLight Trading Up 1.1%

The firm has a market cap of $2.57 billion, a P/E ratio of -193.39 and a beta of 2.46. The firm has a 50-day simple moving average of $38.52 and a 200-day simple moving average of $57.18.

nLight (NASDAQ:LASR) last posted its earnings results on Thursday, November 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The company had revenue of $73.76 million for the quarter, compared to analyst estimates of $68.16 million. nLight had a negative return on equity of 1.03% and a negative net margin of 4.02%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. Research analysts predict that nLight will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Geoffrey Moore sold 4,452 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $34.57, for a total value of $153,905.64. Following the completion of the sale, the director owned 81,265 shares of the company’s stock, valued at $2,809,331.05. This trade represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph Corso sold 4,191 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $40.69, for a total value of $170,531.79. Following the completion of the sale, the chief financial officer directly owned 165,724 shares of the company’s stock, valued at $6,743,309.56. The trade was a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 621,149 shares of company stock valued at $27,153,700. Company insiders own 3.10% of the company’s stock.

Institutional Trading of nLight

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. purchased a new position in shares of nLight in the third quarter worth $87,000. Ieq Capital LLC increased its position in shares of nLight by 10.3% in the 3rd quarter. Ieq Capital LLC now owns 38,250 shares of the company’s stock valued at $1,490,000 after acquiring an additional 3,581 shares during the period. Stephens Investment Management Group LLC raised its stake in nLight by 125.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,026,867 shares of the company’s stock worth $39,991,000 after acquiring an additional 570,728 shares during the last quarter. Voya Investment Management LLC raised its stake in nLight by 41.2% in the 3rd quarter. Voya Investment Management LLC now owns 15,060 shares of the company’s stock worth $587,000 after acquiring an additional 4,398 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in nLight by 75.6% in the 3rd quarter. Cibc World Market Inc. now owns 5,505 shares of the company’s stock worth $214,000 after acquiring an additional 2,370 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

About nLight

nLIGHT, Inc. develops and manufactures lasers and related photonics products for industrial, aerospace and defense applications. Its offerings include high-power semiconductor lasers, fiber lasers and ultrafast lasers, along with components and systems used to deliver and control laser energy. The company’s products support applications such as materials processing and other industrial tasks, as well as defense technologies including directed-energy systems. nLIGHT serves customers in the United States and international markets.