Analysts Set nLight (NASDAQ:LASR) Target Price at $32.67

nLight (NASDAQ:LASR) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $32.6667.

LASR has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of nLight from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Stifel Nicolaus boosted their target price on nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Cantor Fitzgerald raised their price target on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Zacks Research downgraded nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th.

Insider Activity at nLight

In other news, CFO Joseph John Corso sold 4,127 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $33.78, for a total transaction of $139,410.06. Following the sale, the chief financial officer owned 262,299 shares in the company, valued at approximately $8,860,460.22. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James Nias sold 1,200 shares of nLight stock in a transaction on Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the sale, the chief accounting officer directly owned 99,512 shares of the company’s stock, valued at $2,985,360. This represents a 1.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,946 shares of company stock worth $3,448,291 over the last quarter. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On nLight

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of nLight by 2.1% during the first quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company’s stock worth $28,495,000 after acquiring an additional 74,163 shares in the last quarter. King Luther Capital Management Corp bought a new position in shares of nLight during the 1st quarter valued at $388,000. Keeley Teton Advisors LLC raised its position in nLight by 89.7% in the 1st quarter. Keeley Teton Advisors LLC now owns 127,356 shares of the company’s stock worth $990,000 after purchasing an additional 60,221 shares during the period. AIGH Capital Management LLC bought a new stake in nLight in the second quarter worth $11,810,000. Finally, Russell Investments Group Ltd. lifted its stake in nLight by 322.3% in the first quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock worth $121,000 after purchasing an additional 11,884 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLight Stock Down 5.5%

Shares of NASDAQ LASR opened at $36.12 on Thursday. The business has a 50-day simple moving average of $32.56 and a two-hundred day simple moving average of $26.44. nLight has a 52 week low of $6.20 and a 52 week high of $38.63. The company has a market cap of $1.83 billion, a P/E ratio of -41.05 and a beta of 2.34. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09.

nLight Company Profile

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.