Nlight (NASDAQ:LASR) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of Nlight (NASDAQ:LASR) from a buy rating to a hold rating in a report published on Wednesday, ValuEngine reports.

A number of other research analysts also recently weighed in on LASR. DA Davidson reissued a buy rating and issued a $20.00 price target on shares of Nlight in a research note on Tuesday, August 6th. Canaccord Genuity cut their price target on Nlight from $28.00 to $18.00 and set an in-line rating on the stock in a research note on Tuesday, August 6th. Craig Hallum cut their price target on Nlight from $23.00 to $16.00 and set an in-line rating on the stock in a research note on Tuesday, August 6th. Zacks Investment Research downgraded Nlight from a buy rating to a hold rating in a research note on Friday, November 15th. Finally, Needham & Company LLC increased their price target on Nlight from $16.00 to $19.00 and gave the company a buy rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $17.86.

Shares of LASR stock traded down $0.03 during trading hours on Wednesday, reaching $19.96. The company had a trading volume of 221,700 shares, compared to its average volume of 394,649. The company has a 50 day moving average of $15.32 and a 200 day moving average of $16.95. The firm has a market cap of $778.59 million, a price-to-earnings ratio of 62.38 and a beta of 2.11. Nlight has a 1-year low of $12.60 and a 1-year high of $26.77.

Nlight (NASDAQ:LASR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The company had revenue of $43.80 million during the quarter, compared to analyst estimates of $43.92 million. Nlight had a net margin of 0.11% and a return on equity of 0.09%. The business’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, equities analysts predict that Nlight will post -0.19 earnings per share for the current fiscal year.

In related news, CFO Ran Bareket sold 25,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $20.02, for a total transaction of $500,500.00. Following the sale, the chief financial officer now owns 118,333 shares of the company’s stock, valued at approximately $2,369,026.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert Martinsen sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $20.00, for a total value of $30,000.00. Following the sale, the chief technology officer now directly owns 46,655 shares in the company, valued at approximately $933,100. The disclosure for this sale can be found here. Insiders have sold a total of 62,243 shares of company stock worth $5,714,562 in the last ninety days. 5.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of LASR. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Nlight by 43.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,300 shares of the company’s stock valued at $52,000 after purchasing an additional 1,005 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Nlight by 6.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 25,453 shares of the company’s stock valued at $489,000 after purchasing an additional 1,647 shares during the period. D.A. Davidson & CO. raised its stake in shares of Nlight by 10.2% in the 2nd quarter. D.A. Davidson & CO. now owns 20,600 shares of the company’s stock valued at $396,000 after purchasing an additional 1,910 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Nlight in the 2nd quarter valued at about $48,000. Finally, Bank of Montreal Can acquired a new stake in shares of Nlight in the 2nd quarter valued at about $52,000. 85.27% of the stock is currently owned by institutional investors and hedge funds.

About Nlight

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.

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Analyst Recommendations for Nlight (NASDAQ:LASR)

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