nLight (NASDAQ:LASR) Reaches New 12-Month High – What’s Next?

nLight (NASDAQ:LASR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.17 and last traded at $39.7350, with a volume of 559878 shares trading hands. The stock had previously closed at $37.55.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC boosted their target price on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Roth Capital started coverage on shares of nLight in a research report on Wednesday, December 17th. They issued a “buy” rating and a $44.00 price objective on the stock. Canaccord Genuity Group upgraded shares of nLight to a “buy” rating in a research note on Wednesday, December 17th. Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Stifel Nicolaus raised their price objective on shares of nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.29.

nLight Trading Down 0.0%

The firm has a 50-day moving average of $35.24 and a two-hundred day moving average of $29.25. The firm has a market capitalization of $2.03 billion, a P/E ratio of -45.48 and a beta of 2.33. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09.

Insider Transactions at nLight

In related news, CEO Scott H. Keeney sold 31,748 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at $85,711,100.20. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total transaction of $443,744.80. Following the completion of the sale, the director owned 102,576 shares of the company’s stock, valued at $3,624,010.08. The trade was a 10.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 141,262 shares of company stock worth $5,101,910. 4.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nLight

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in nLight by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after purchasing an additional 1,170 shares in the last quarter. Jane Street Group LLC boosted its position in shares of nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock valued at $600,000 after buying an additional 66,518 shares during the last quarter. Strs Ohio bought a new stake in nLight during the first quarter worth $371,000. GAMMA Investing LLC raised its position in nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 924 shares during the last quarter. Finally, CWM LLC lifted its stake 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 in 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.