Nlight (NASDAQ:LASR) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Nlight (NASDAQ:LASR) from a sell rating to a hold rating in a research note issued to investors on Thursday, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. Benchmark restated a hold rating on shares of Nlight in a report on Thursday, August 6th. TheStreet downgraded Nlight from a c- rating to a d rating in a report on Thursday, August 6th. Needham & Company LLC increased their price objective on Nlight from $24.00 to $26.00 and gave the stock a buy rating in a report on Thursday, August 6th. Canaccord Genuity upped their target price on Nlight from $22.00 to $27.00 and gave the stock a buy rating in a research report on Thursday, August 6th. Finally, ValuEngine cut Nlight from a buy rating to a hold rating in a research report on Monday, June 8th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $25.00.

NASDAQ:LASR opened at $24.00 on Thursday. The stock’s 50 day moving average price is $23.05 and its 200 day moving average price is $19.51. Nlight has a 52 week low of $9.03 and a 52 week high of $26.48. The company has a market capitalization of $830.35 million, a P/E ratio of -34.78 and a beta of 2.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.16 and a current ratio of 5.52.

Nlight (NASDAQ:LASR) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Nlight had a negative return on equity of 9.17% and a negative net margin of 14.17%. The firm had revenue of $52.14 million during the quarter, compared to analyst estimates of $48.01 million. As a group, sell-side analysts forecast that Nlight will post -0.6 earnings per share for the current fiscal year.

In other news, CEO Scott H. Keeney sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $22.88, for a total value of $114,400.00. Following the completion of the sale, the chief executive officer now directly owns 366,736 shares of the company’s stock, valued at $8,390,919.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ran Bareket sold 12,500 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $24.21, for a total value of $302,625.00. The disclosure for this sale can be found here. Insiders have sold 37,054 shares of company stock valued at $866,189 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of LASR. Aigen Investment Management LP bought a new stake in shares of Nlight in the first quarter valued at approximately $39,000. PNC Financial Services Group Inc. lifted its position in Nlight by 1,837.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,424 shares of the company’s stock worth $58,000 after purchasing an additional 5,144 shares during the period. Bank of Montreal Can bought a new position in Nlight in the second quarter worth $63,000. BNP Paribas Arbitrage SA lifted its position in Nlight by 96.5% in the first quarter. BNP Paribas Arbitrage SA now owns 10,830 shares of the company’s stock worth $114,000 after purchasing an additional 5,318 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Nlight in the first quarter worth $132,000. 81.72% of the stock is owned by institutional investors.

Nlight Company Profile

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It also produces optical fiber products. The company markets and sells its products to original equipment manufacturers primarily through direct sales force in the United States, China, South Korea, 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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