nLight (NASDAQ:LASR) Sets New 1-Year High – Should You Buy?

nLight (NASDAQ:LASR)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $38.63 and last traded at $38.2910, with a volume of 250730 shares changing hands. The stock had previously closed at $37.80.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LASR. Needham & Company LLC boosted their target price on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus boosted their price objective on nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald increased their price target on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, nLight has an average rating of “Moderate Buy” and a consensus target price of $32.67.

nLight Stock Performance

The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $32.32 and its 200 day moving average price is $26.13. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -43.44 and a beta of 2.34.

Insider Transactions at nLight

In related news, CEO Scott H. Keeney sold 62,507 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $30.99, for a total value of $1,937,091.93. Following the sale, the chief executive officer directly owned 2,319,038 shares in the company, valued at $71,866,987.62. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James Nias sold 1,200 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the sale, the chief accounting officer owned 99,512 shares in the company, valued at $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 121,337 shares of company stock valued at $3,892,167 over the last ninety days. 4.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LASR. Assenagon Asset Management S.A. grew 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 valued at $661,000 after buying an additional 357 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of 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 acquiring an additional 561 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of 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 acquiring an additional 723 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 924 shares during the period. Finally, Larson Financial Group LLC increased its position in nLight by 45.5% during the third quarter. Larson Financial Group LLC now owns 3,488 shares of the company’s stock worth $103,000 after purchasing an additional 1,091 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

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.