nLight (NASDAQ:LASR) Reaches New 52-Week High – Here’s Why

nLight (NASDAQ:LASR) shares reached a new 52-week high during trading on Friday . The stock traded as high as $48.66 and last traded at $46.67, with a volume of 201891 shares changing hands. The stock had previously closed at $47.11.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Needham & Company LLC raised their target price on shares of nLight from $39.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Stifel Nicolaus assumed coverage on nLight in a report on Tuesday, January 20th. They issued a “buy” rating and a $60.00 price target for the company. Roth Mkm assumed coverage on shares of nLight in a research report on Wednesday, December 17th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Canaccord Genuity Group upgraded nLight to a “buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.43.

nLight Stock Down 1.4%

The company has a market capitalization of $2.36 billion, a PE ratio of -52.76 and a beta of 2.33. The firm has a 50-day simple moving average of $38.91 and a 200 day simple moving average of $31.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36.

Insider Activity

In related news, CEO Scott H. Keeney sold 31,748 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $443,744.80. Following the transaction, the director owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. This trade represents a 10.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,262 shares of company stock valued at $5,101,910 over the last ninety days. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On nLight

Several large investors have recently modified their holdings of LASR. Pictet Asset Management Holding SA bought a new position in nLight during the 4th quarter worth approximately $335,000. Cornerstone Investment Partners LLC bought a new position in nLight in the fourth quarter worth about $229,000. Vanguard Group Inc. boosted its stake in nLight by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock valued at $187,166,000 after acquiring an additional 125,446 shares during the period. NBC Securities Inc. grew its holdings in shares of nLight by 139.2% during the fourth quarter. NBC Securities Inc. now owns 3,627 shares of the company’s stock valued at $136,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of nLight during the 4th quarter worth approximately $788,000. Institutional investors own 83.88% of the company’s stock.

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.