nLight (NASDAQ:LASR) Hits New 52-Week High – What’s Next?

Shares of nLight (NASDAQ:LASR) hit a new 52-week high on Thursday . The company traded as high as $56.43 and last traded at $54.35, with a volume of 1954758 shares changing hands. The stock had previously closed at $50.89.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LASR. Zacks Research downgraded nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Wall Street Zen cut shares of nLight from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Cantor Fitzgerald lifted their price target on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Needham & Company LLC lifted their price target 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 investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.00.

nLight Stock Performance

The company has a fifty day moving average price of $44.11 and a two-hundred day moving average price of $35.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. The company has a market capitalization of $2.84 billion, a P/E ratio of -63.65 and a beta of 2.33.

Insider Activity at nLight

In other news, CEO Scott H. Keeney sold 31,748 shares of the firm’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 completion of the transaction, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction 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. This represents a 25.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 127,502 shares of company stock valued at $4,622,166. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On nLight

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of nLight by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after acquiring an additional 1,170 shares during the period. Jane Street Group LLC raised its holdings in nLight by 622.7% during the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after purchasing an additional 66,518 shares during the last quarter. CWM LLC lifted its position in shares of nLight by 191.6% in the 2nd quarter. CWM LLC now owns 8,475 shares of the company’s stock worth $167,000 after purchasing an additional 5,569 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of nLight by 162.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after purchasing an additional 1,700 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of nLight in the 2nd quarter valued at $1,773,000. Institutional investors and hedge funds 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.