nLight (NASDAQ:LASR) Reaches New 52-Week High – Should You Buy?

nLight (NASDAQ:LASR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.50 and last traded at $47.4350, with a volume of 408742 shares trading hands. The stock had previously closed at $43.94.

Wall Street Analyst Weigh In

Several brokerages recently commented on LASR. Cantor Fitzgerald boosted their target price on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group raised nLight to a “buy” rating in a research note on Wednesday, December 17th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.43.

nLight Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. The stock has a market cap of $2.30 billion, a PE ratio of -51.42 and a beta of 2.33. The stock has a 50 day moving average of $36.52 and a two-hundred day moving average of $30.40.

Insider Activity

In other news, 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 value 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. This trade represents a 10.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Joseph John Corso sold 66,075 shares of nLight stock in a transaction on Monday, December 15th. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00. Following the transaction, the chief financial officer owned 196,224 shares in the company, valued at $7,126,855.68. This represents a 25.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 141,262 shares of company stock worth $5,101,910 in the last quarter. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On nLight

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted 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 during the period. Osaic Holdings Inc. lifted its position in shares of nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of nLight during the third quarter worth approximately $41,000. Global Retirement Partners LLC purchased a new position in nLight during the third quarter valued at approximately $49,000. Finally, Nisa Investment Advisors LLC increased its stake in nLight by 162.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after buying an additional 1,700 shares during the period. 83.88% of the stock is owned by hedge funds and other institutional investors.

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.