Raymond James upgraded shares of Nlight (NASDAQ:LASR) from an outperform rating to a strong-buy rating in a research note published on Friday, September 21st, Marketbeat Ratings reports. Raymond James currently has $40.00 price objective on the stock.
LASR has been the subject of several other research reports. Zacks Investment Research cut Nlight from a buy rating to a hold rating in a research note on Wednesday, July 25th. Canaccord Genuity boosted their target price on Nlight from $35.00 to $43.00 and gave the stock a buy rating in a research note on Tuesday, June 19th. Benchmark initiated coverage on Nlight in a research note on Tuesday, August 28th. They set a sell rating for the company. Finally, Needham & Company LLC boosted their target price on Nlight from $34.00 to $37.00 and gave the stock a buy rating in a research note on Tuesday, May 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Nlight has an average rating of Buy and a consensus price target of $38.86.
Shares of LASR traded up $1.16 during midday trading on Friday, hitting $19.13. The company had a trading volume of 444,179 shares, compared to its average volume of 340,875. The company has a current ratio of 5.73, a quick ratio of 4.69 and a debt-to-equity ratio of 0.08. Nlight has a 1 year low of $16.40 and a 1 year high of $43.63.
Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $51.70 million during the quarter, compared to analysts’ expectations of $50.25 million. The company’s revenue was up 49.0% on a year-over-year basis. As a group, equities analysts predict that Nlight will post 0.33 earnings per share for the current year.
In other news, major shareholder Mv Management Ix Llc sold 1,192,205 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total value of $30,329,695.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bandel L. Carano sold 1,109,417 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $25.44, for a total value of $28,223,568.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,481,622 shares of company stock worth $63,132,464.
Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Nlight in the second quarter valued at approximately $22,235,000. BlackRock Inc. acquired a new position in Nlight during the second quarter worth $13,077,000. Royce & Associates LP acquired a new position in Nlight during the second quarter worth $10,848,000. Wasatch Advisors Inc. acquired a new position in Nlight during the second quarter worth $8,684,000. Finally, Pier Capital LLC acquired a new position in Nlight during the second quarter worth $7,747,000. 46.46% of the stock is currently owned by institutional investors and hedge funds.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in North America, Asia, and Europe.
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