nLight (NASDAQ:LASR) Sees Large Volume Increase – Time to Buy?

Shares of nLight (NASDAQ:LASR) saw unusually-strong trading volume on Wednesday . Approximately 1,089,324 shares were traded during mid-day trading, an increase of 26% from the previous session’s volume of 864,313 shares.The stock last traded at $45.68 and had previously closed at $49.98.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LASR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Stifel Nicolaus initiated coverage on shares of nLight in a research report on Tuesday, January 20th. They issued a “buy” rating and a $60.00 target price for the company. Needham & Company LLC boosted their price target on shares of nLight from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a research note on Wednesday, December 17th. Finally, Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a research report on Saturday. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

nLight Price Performance

The stock has a market capitalization of $2.11 billion, a P/E ratio of -47.52 and a beta of 2.33. The firm has a fifty day moving average price of $39.87 and a two-hundred day moving average price of $32.51. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09.

Insider Activity at nLight

In other news, CEO Scott H. Keeney sold 31,748 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at $85,711,100.20. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond A. Link sold 12,560 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the transaction, the director directly owned 102,576 shares in the company, valued at approximately $3,624,010.08. This represents a 10.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 141,262 shares of company stock valued at $5,101,910 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On nLight

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in shares of nLight by 22.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after purchasing an additional 223 shares during the period. Assenagon Asset Management S.A. lifted its holdings in nLight by 1.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock worth $661,000 after purchasing an additional 357 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in nLight by 12.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock valued at $97,000 after buying an additional 561 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in nLight by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,988 shares of the company’s stock valued at $354,000 after buying an additional 723 shares in the last quarter. Finally, Burney Co. raised its position in shares of nLight by 4.0% during the fourth quarter. Burney Co. now owns 25,226 shares of the company’s stock valued at $946,000 after buying an additional 968 shares during the last quarter. 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.