Zacks Investment Research upgraded shares of Nlight (NASDAQ:LASR) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $16.00 price objective on the stock.
According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber laser. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “
A number of other research analysts have also issued reports on the company. DA Davidson restated a buy rating and set a $20.00 price objective on shares of Nlight in a research report on Tuesday, August 6th. Needham & Company LLC reduced their price objective on Nlight from $18.00 to $16.00 and set a buy rating for the company in a research report on Tuesday. Canaccord Genuity reduced their price objective on Nlight from $28.00 to $18.00 and set an in-line rating for the company in a research report on Tuesday, August 6th. Craig Hallum reduced their price objective on Nlight from $23.00 to $16.00 and set an in-line rating for the company in a research report on Tuesday, August 6th. Finally, ValuEngine upgraded Nlight from a hold rating to a buy rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Nlight has a consensus rating of Hold and a consensus price target of $17.43.
Shares of NASDAQ LASR opened at $16.57 on Wednesday. Nlight has a twelve month low of $12.60 and a twelve month high of $26.77. The company has a market capitalization of $599.99 million, a price-to-earnings ratio of 51.78 and a beta of 2.11. The business has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $17.33.
Nlight (NASDAQ:LASR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). Nlight had a net margin of 0.11% and a return on equity of 0.09%. The firm had revenue of $43.80 million during the quarter, compared to the consensus estimate of $43.92 million. During the same quarter last year, the firm posted $0.15 earnings per share. Nlight’s revenue was down 14.1% compared to the same quarter last year. Research analysts forecast that Nlight will post -0.18 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in LASR. NumerixS Investment Technologies Inc acquired a new position in Nlight during the 2nd quarter valued at approximately $48,000. Bank of Montreal Can acquired a new position in Nlight during the 2nd quarter worth $52,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nlight by 43.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,300 shares of the company’s stock worth $52,000 after acquiring an additional 1,005 shares during the period. Tower Research Capital LLC TRC acquired a new position in Nlight during the 2nd quarter worth $176,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Nlight by 1,505.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,656 shares of the company’s stock worth $228,000 after acquiring an additional 10,930 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.
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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