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

nLight (NASDAQ:LASR) shares hit a new 52-week high on Friday . The stock traded as high as $51.34 and last traded at $51.18, with a volume of 1248303 shares traded. The stock had previously closed at $46.09.

Analysts Set New Price Targets

A number of analysts have recently commented on LASR shares. Roth Mkm upped their target price on nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Cantor Fitzgerald boosted their target price on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Stifel Nicolaus started coverage on shares of nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on shares of nLight from $39.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

nLight Trading Up 10.9%

The company’s fifty day simple moving average is $40.28 and its 200-day simple moving average is $32.69. The firm has a market capitalization of $2.60 billion, a PE ratio of -58.09 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36.

Insider Transactions at nLight

In other nLight news, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the completion of the sale, the chief financial officer directly owned 196,224 shares in the company, valued at approximately $7,126,855.68. The trade was a 25.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott H. Keeney sold 31,748 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 141,262 shares of company stock valued at $5,101,910. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nLight

A number of large investors have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust acquired a new stake in nLight in the 3rd quarter valued at about $8,626,000. Federated Hermes Inc. grew its position in shares of nLight by 161,736.7% in the third quarter. Federated Hermes Inc. now owns 79,300 shares of the company’s stock valued at $2,350,000 after purchasing an additional 79,251 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of nLight in the second quarter valued at approximately $11,810,000. Coldstream Capital Management Inc. increased its holdings in shares of nLight by 48,328.6% in the second quarter. Coldstream Capital Management Inc. now owns 13,560 shares of the company’s stock valued at $267,000 after purchasing an additional 13,532 shares during the last quarter. Finally, Harvey Partners LLC lifted its position in nLight by 1.7% during the second quarter. Harvey Partners LLC now owns 2,107,348 shares of the company’s stock worth $41,473,000 after buying an additional 34,348 shares in the last quarter. Hedge funds and other 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.