nLight (NASDAQ:LASR) Reaches New 12-Month High – Still a Buy?

nLight (NASDAQ:LASR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.17 and last traded at $39.7350, with a volume of 559878 shares trading hands. The stock had previously closed at $37.55.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of analyst reports. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Cantor Fitzgerald lifted their target price on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Needham & Company LLC lifted their price objective on nLight from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Canaccord Genuity Group raised nLight to a “buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.29.

nLight Stock Up 4.7%

The company has a market cap of $2.00 billion, a P/E ratio of -44.69 and a beta of 2.33. The stock has a 50-day moving average of $34.93 and a two-hundred day moving average of $29.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63.

Insider Buying and Selling

In other nLight news, Director Raymond A. Link sold 12,560 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the transaction, the director owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. The trade was a 10.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James Nias sold 1,200 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $30.00, for a total value of $36,000.00. Following the completion of the sale, the chief accounting officer owned 99,512 shares of the company’s stock, valued at $2,985,360. The trade was a 1.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,514 shares of company stock valued at $3,911,043 over the last three months. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LASR. GAMMA Investing LLC raised its stake in shares of nLight by 147.6% during the 2nd 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. raised its position in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares during the last quarter. Wexford Capital LP acquired a new stake in nLight in the 3rd quarter worth about $41,000. Global Retirement Partners LLC purchased a new stake in nLight during the 3rd quarter worth approximately $49,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of nLight by 162.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the last quarter. 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. 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.