nLight (NASDAQ:LASR) Sets New 12-Month High – Here’s What Happened

nLight (NASDAQ:LASR)’s stock price reached a new 52-week high on Monday . The company traded as high as $38.99 and last traded at $38.3650, with a volume of 43129 shares traded. The stock had previously closed at $37.71.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Roth Capital started coverage on shares of nLight in a report on Wednesday, December 17th. They set a “buy” rating and a $44.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Needham & Company LLC boosted their price target on shares of nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Stifel Nicolaus raised 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. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.29.

nLight Trading Down 0.3%

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 firm has a market capitalization of $2.00 billion, a PE ratio of -44.70 and a beta of 2.34. The stock’s 50-day simple moving average is $33.51 and its 200-day simple moving average is $27.52.

Insider Activity at nLight

In other nLight news, CFO Joseph John Corso sold 66,075 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 196,224 shares in the company, valued at $7,126,855.68. This trade represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO James Nias sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $30.00, for a total value of $36,000.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 109,514 shares of company stock valued at $3,911,043 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in nLight by 147.6% during 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. Osaic Holdings Inc. boosted its stake in shares of nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after buying an additional 1,727 shares during the last quarter. Wexford Capital LP bought a new stake in shares of nLight in the third quarter worth $41,000. Global Retirement Partners LLC purchased a new stake in nLight during the third quarter valued at $49,000. Finally, Nisa Investment Advisors LLC lifted its holdings in nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the period. 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.