nLight (NASDAQ:LASR) Shares Up 9.5% – What’s Next?

nLight (NASDAQ:LASR)’s share price traded up 9.5% on Wednesday . The company traded as high as $55.74 and last traded at $55.7060. 659,926 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 1,147,520 shares. The stock had previously closed at $50.89.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LASR shares. Roth Mkm lifted their target price on shares of nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Stifel Nicolaus started coverage on nLight in a research note on Tuesday, January 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Cantor Fitzgerald increased their target price on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC lifted their price target on nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.00.

nLight Stock Up 6.8%

The firm has a 50 day moving average of $43.04 and a 200-day moving average of $34.71. 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 stock has a market capitalization of $2.76 billion, a P/E ratio of -61.76 and a beta of 2.33.

Insider Activity at nLight

In other news, CAO James Nias sold 1,200 shares of the 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 completion of the transaction, the chief accounting officer directly owned 99,512 shares of the company’s stock, valued at approximately $2,985,360. This represents a 1.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $1,190,867.48. Following the completion of the sale, the chief executive officer directly owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 128,702 shares of company stock valued at $4,658,166 over the last quarter. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On nLight

Several institutional investors have recently added to or reduced their stakes in LASR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in nLight by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of nLight by 622.7% in the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after acquiring an additional 66,518 shares in the last quarter. CWM LLC boosted its holdings 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 acquiring an additional 5,569 shares in the last quarter. Stephens Investment Management Group LLC grew its position in nLight by 13.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,034,376 shares of the company’s stock worth $20,357,000 after acquiring an additional 124,447 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in nLight by 162.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after purchasing an additional 1,700 shares in the last quarter. 83.88% of the stock is owned by 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.