Analysts Set nLight (NASDAQ:LASR) Target Price at $38.43

nLight (NASDAQ:LASR) has been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $40.00.

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Cantor Fitzgerald lifted their price target on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Zacks Research cut nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Roth Mkm boosted their price target on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday.

Insider Transactions at nLight

In related news, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the completion of the sale, the chief financial officer owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This represents a 25.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James Nias sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $30.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accounting officer owned 99,512 shares in the company, 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. Over the last quarter, insiders sold 141,262 shares of company stock valued at $5,101,910. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nLight

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Consulate Inc. acquired a new stake in nLight in the 4th quarter valued at $41,000. SBI Securities Co. Ltd. grew its stake in shares of nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after buying an additional 223 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of nLight during the 3rd quarter valued at about $41,000. GAMMA Investing LLC lifted its position in 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 acquiring an additional 924 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in nLight during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight Stock Performance

NASDAQ LASR opened at $46.09 on Friday. The business’s 50-day moving average price is $40.28 and its 200 day moving average price is $32.69. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09. nLight has a twelve month low of $6.20 and a twelve month high of $50.78. The company has a market capitalization of $2.34 billion, a PE ratio of -52.38 and a beta of 2.33.

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.