Zacks Research Downgrades nLight (NASDAQ:LASR) to Hold

nLight (NASDAQ:LASR) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on LASR. Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC upped their price target on nLight from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Cantor Fitzgerald increased their price objective on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Stifel Nicolaus boosted their target price on nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, nLight currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

nLight Price Performance

Shares of nLight stock opened at $37.53 on Tuesday. The firm has a market cap of $1.91 billion, a PE ratio of -42.82 and a beta of 2.34. nLight has a 12-month low of $6.20 and a 12-month high of $38.62. 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 company’s fifty day simple moving average is $32.32 and its two-hundred day simple moving average is $26.13.

Insider Buying and Selling at nLight

In related news, CEO Scott H. Keeney sold 15,371 shares of nLight stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $35.66, for a total transaction of $548,129.86. Following the completion of the transaction, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at $81,483,813.20. This trade represents a 0.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raymond A. Link sold 12,560 shares of the business’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 sale, the director directly owned 102,576 shares in the company, valued at $3,624,010.08. The trade was a 10.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 121,337 shares of company stock worth $3,892,167. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On nLight

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in nLight by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company’s stock valued at $28,495,000 after buying an additional 74,163 shares in the last quarter. Keeley Teton Advisors LLC boosted its holdings in nLight by 89.7% in the first quarter. Keeley Teton Advisors LLC now owns 127,356 shares of the company’s stock worth $990,000 after acquiring an additional 60,221 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in shares of nLight in the second quarter worth $11,810,000. Russell Investments Group Ltd. increased its holdings in shares of nLight by 322.3% during the first quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock valued at $121,000 after acquiring an additional 11,884 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of nLight by 48,328.6% during the second quarter. Coldstream Capital Management Inc. now owns 13,560 shares of the company’s stock valued at $267,000 after acquiring an additional 13,532 shares in the last quarter. 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.