Nlight Inc (NASDAQ:LASR) Receives $19.60 Consensus PT from Brokerages

Shares of Nlight Inc (NASDAQ:LASR) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.60.

Several research analysts have weighed in on the stock. Needham & Company LLC upped their target price on shares of Nlight from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Zacks Investment Research lowered shares of Nlight from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Jaffray Companies initiated coverage on shares of Nlight in a research report on Friday, December 20th. They set an “overweight” rating and a $25.00 target price on the stock. Finally, ValuEngine downgraded shares of Nlight from a “buy” rating to a “hold” rating in a report on Saturday, January 4th.

In related news, CFO Ran Bareket sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $20.02, for a total transaction of $500,500.00. Following the transaction, the chief financial officer now owns 118,333 shares of the company’s stock, valued at $2,369,026.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert Martinsen sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $20.00, for a total transaction of $30,000.00. Following the transaction, 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 sold 72,243 shares of company stock worth $5,920,212 in the last ninety days. Insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LASR. NumerixS Investment Technologies Inc purchased a new position in shares of Nlight during the second quarter valued at approximately $48,000. Bank of Montreal Can acquired a new position in Nlight during the second quarter worth approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nlight by 43.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,300 shares of the company’s stock worth $52,000 after purchasing an additional 1,005 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Nlight in the third quarter worth $157,000. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Nlight by 42.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 10,755 shares of the company’s stock worth $168,000 after acquiring an additional 3,200 shares in the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of LASR opened at $20.96 on Friday. The firm’s 50-day moving average is $19.94 and its two-hundred day moving average is $16.73. Nlight has a twelve month low of $12.60 and a twelve month high of $26.77. The firm has a market capitalization of $770.29 million, a P/E ratio of 65.50 and a beta of 2.41.

Nlight (NASDAQ:LASR) last issued its earnings results on Monday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Nlight had a return on equity of 0.09% and a net margin of 0.11%. The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $43.92 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s quarterly revenue was down 14.1% compared to the same quarter last year. Sell-side analysts predict that Nlight will post -0.2 EPS for the current fiscal year.

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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