nLight (NASDAQ:LASR) Price Target Raised to $39.00 at Needham & Company LLC

nLight (NASDAQ:LASR) had its price target raised by Needham & Company LLC from $32.00 to $39.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Zacks Research upgraded nLight from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Cantor Fitzgerald boosted their price target on nLight from $27.50 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of nLight in a report on Friday, August 8th. Finally, Stifel Nicolaus raised their price target on shares of nLight from $12.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $32.67.

nLight Price Performance

LASR traded up $4.37 during midday trading on Friday, hitting $34.16. 2,389,796 shares of the company traded hands, compared to its average volume of 667,848. The business has a 50 day simple moving average of $30.50 and a two-hundred day simple moving average of $22.33. nLight has a 52-week low of $6.20 and a 52-week high of $36.59. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -38.82 and a beta of 2.48. The company has a current ratio of 5.63, a quick ratio of 4.41 and a debt-to-equity ratio of 0.09.

nLight (NASDAQ:LASR) last released its earnings results on Thursday, August 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.15. The business had revenue of $61.74 million during the quarter, compared to analysts’ expectations of $55.24 million. nLight had a negative net margin of 19.13% and a negative return on equity of 17.18%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. On average, equities analysts forecast that nLight will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at nLight

In other news, CEO Scott H. Keeney sold 62,507 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $30.99, for a total transaction of $1,937,091.93. Following the completion of the sale, the chief executive officer owned 2,319,038 shares in the company, valued at $71,866,987.62. This trade represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph John Corso sold 38,284 shares of nLight stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $28.29, for a total transaction of $1,083,054.36. Following the sale, the chief financial officer directly owned 273,118 shares in the company, valued at approximately $7,726,508.22. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 374,980 shares of company stock worth $10,650,501 over the last ninety days. 4.70% of the stock is owned by insiders.

Institutional Trading of nLight

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LASR. GAMMA Investing LLC increased its stake in shares of nLight by 147.6% during the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after buying an additional 924 shares during the period. Osaic Holdings Inc. lifted its stake in nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after acquiring an additional 1,727 shares during the last quarter. Global Retirement Partners LLC acquired a new position in nLight during the 3rd quarter worth approximately $49,000. Nisa Investment Advisors LLC increased its position in shares of nLight by 162.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Militia Capital Partners LP acquired a new stake in shares of nLight in the 2nd quarter valued at $71,000. Hedge funds and other 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.