nLIGHT (NASDAQ:LASR) Shares Up 6.1% – Still a Buy?

nLIGHT, Inc. (NASDAQ:LASR)’s share price shot up 6.1% during mid-day trading on Thursday . The stock traded as high as $18.37 and last traded at $18.36. 590,041 shares changed hands during mid-day trading, an increase of 53% from the average session volume of 385,411 shares. The stock had previously closed at $17.30.

Analyst Ratings Changes

Several research firms recently issued reports on LASR. Needham & Company LLC raised their price target on nLIGHT from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Craig Hallum raised nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nLIGHT currently has an average rating of “Buy” and a consensus target price of $15.70.

nLIGHT Stock Performance

The business has a fifty day simple moving average of $10.45 and a 200-day simple moving average of $10.34. The firm has a market cap of $870.13 million, a price-to-earnings ratio of -17.09 and a beta of 2.02.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.13. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The firm had revenue of $51.67 million for the quarter, compared to analyst estimates of $47.77 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The business’s revenue was up 16.2% on a year-over-year basis. On average, equities analysts anticipate that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Insider Transactions at nLIGHT

In related news, CEO Scott H. Keeney sold 40,680 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $16.07, for a total transaction of $653,727.60. Following the completion of the sale, the chief executive officer now directly owns 1,281,540 shares of the company’s stock, valued at approximately $20,594,347.80. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 116,853 shares of company stock valued at $1,818,727 over the last ninety days. 4.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nLIGHT

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in nLIGHT by 19.4% during the fourth quarter. SG Americas Securities LLC now owns 20,022 shares of the company’s stock valued at $210,000 after purchasing an additional 3,250 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in nLIGHT by 20.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company’s stock valued at $9,932,000 after acquiring an additional 162,903 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of nLIGHT by 21.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 263,055 shares of the company’s stock worth $2,759,000 after purchasing an additional 46,596 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of nLIGHT in the 4th quarter worth approximately $237,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in nLIGHT by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,684 shares of the company’s stock valued at $4,077,000 after purchasing an additional 2,900 shares during the last quarter. 83.88% of the stock is owned by institutional investors.

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.