nLight (NASDAQ:LASR) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of nLight (NASDAQ:LASR) from a buy rating to a hold rating in a research note released on Sunday.

A number of other equities research analysts have also recently commented on LASR. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. 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 report on Friday, November 7th. Finally, Roth Mkm raised their price objective on shares of nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

nLight Stock Performance

NASDAQ LASR opened at $52.92 on Friday. The company has a market capitalization of $2.69 billion, a PE ratio of -60.14 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a 52-week low of $6.20 and a 52-week high of $55.31. The company has a 50-day simple moving average of $41.42 and a 200 day simple moving average of $33.58.

Insider Activity at nLight

In other nLight news, CFO Joseph John Corso sold 66,075 shares of nLight 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 transaction, the chief financial officer directly owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This trade represents a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott H. Keeney sold 31,748 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 128,702 shares of company stock valued at $4,658,166. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLight

Several institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 buying an additional 1,170 shares during the period. Jane Street Group LLC lifted its stake in shares of nLight by 622.7% in the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock valued at $600,000 after acquiring an additional 66,518 shares during the last quarter. CWM LLC boosted its holdings in nLight by 191.6% during the 2nd quarter. CWM LLC now owns 8,475 shares of the company’s stock valued at $167,000 after acquiring an additional 5,569 shares during the period. AIGH Capital Management LLC bought a new position in nLight during the 2nd quarter worth approximately $11,810,000. Finally, Stephens Investment Management Group LLC increased its stake in nLight by 13.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,034,376 shares of the company’s stock worth $20,357,000 after purchasing an additional 124,447 shares during the period. 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.