Robert W. Baird Initiates Coverage on nLight (NASDAQ:LASR)

Analysts at Robert W. Baird initiated coverage on shares of nLight (NASDAQ:LASR) in a report issued on Tuesday, Marketbeat reports. The brokerage set an “outperform” rating and a $95.00 price target on the stock. Robert W. Baird’s price objective points to a potential upside of 41.75% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC upped their price target on shares of nLight from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Roth Mkm raised their target price on nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

nLight Stock Up 6.3%

Shares of nLight stock opened at $67.02 on Tuesday. The company’s 50 day moving average is $47.96 and its 200 day moving average is $37.36. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -142.60 and a beta of 2.27. nLight has a twelve month low of $6.20 and a twelve month high of $69.52.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $81.19 million during the quarter, compared to analyst estimates of $76.71 million. nLight had a negative return on equity of 9.28% and a negative net margin of 8.98%.nLight’s revenue was up 71.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Sell-side analysts expect that nLight will post -1.1 EPS for the current fiscal year.

Insider Transactions at nLight

In other news, CFO Joseph John Corso sold 66,075 shares of the business’s 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 of the company’s stock, valued at approximately $7,126,855.68. The trade was a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott H. Keeney sold 31,748 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of nLight

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after acquiring an additional 1,727 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of nLight during the 4th quarter valued at approximately $41,000. Finally, Wexford Capital LP purchased a new stake in nLight during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

About nLight

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.