nLight (NASDAQ:LASR) Rating Lowered to Hold at Wall Street Zen

nLight (NASDAQ:LASR) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts also recently weighed in on LASR. Cantor Fitzgerald increased their price target on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Canaccord Genuity Group upgraded nLight to a “buy” rating in a report on Wednesday, December 17th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Roth Capital assumed coverage on nLight in a research report on Wednesday, December 17th. They set a “buy” rating and a $44.00 price target for the company. Finally, Stifel Nicolaus upped their price target on nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.29.

nLight Stock Up 2.3%

LASR opened at $38.37 on Friday. nLight has a 12 month low of $6.20 and a 12 month high of $39.99. The business has a 50-day moving average of $34.63 and a two-hundred day moving average of $28.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -43.60 and a beta of 2.33.

Insider Buying and Selling

In other nLight news, CFO Joseph John Corso sold 66,075 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the transaction, the chief financial officer owned 196,224 shares in the company, valued at $7,126,855.68. This represents a 25.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $35.33, for a total transaction of $443,744.80. Following the completion of the sale, the director directly owned 102,576 shares of the company’s stock, valued at $3,624,010.08. This trade represents a 10.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 109,514 shares of company stock worth $3,911,043. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in nLight by 14.6% during the 1st quarter. Invesco Ltd. now owns 59,298 shares of the company’s stock valued at $461,000 after purchasing an additional 7,570 shares in the last quarter. State of Wyoming grew its stake in shares of nLight by 110.6% during the first quarter. State of Wyoming now owns 14,762 shares of the company’s stock valued at $115,000 after acquiring an additional 7,754 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of nLight by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock valued at $214,000 after acquiring an additional 1,170 shares in the last quarter. Jane Street Group LLC increased its position in shares of nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after acquiring an additional 66,518 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of nLight in the first quarter worth about $371,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.