nLIGHT’s (LASR) “Speculative Buy” Rating Reiterated at Benchmark

Benchmark reiterated their speculative buy rating on shares of nLIGHT (NASDAQ:LASR) in a research note published on Friday morning, Benzinga reports. They currently have a $17.00 target price on the stock.

Separately, Needham & Company LLC reduced their price objective on nLIGHT from $16.00 to $15.00 and set a buy rating on the stock in a research note on Friday, May 3rd.

nLIGHT Price Performance

Shares of LASR stock traded down $0.24 during trading hours on Friday, reaching $10.65. 119,619 shares of the company traded hands, compared to its average volume of 194,930. nLIGHT has a 12-month low of $8.13 and a 12-month high of $15.00. The company has a market cap of $506.51 million, a P/E ratio of -10.68 and a beta of 2.39. The firm has a 50-day moving average price of $11.94 and a 200 day moving average price of $12.46.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative return on equity of 19.33% and a negative net margin of 25.62%. The firm had revenue of $50.51 million for the quarter, compared to analysts’ expectations of $49.23 million. During the same period in the previous year, the firm earned ($0.18) EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts predict that nLIGHT will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Geoffrey Moore sold 38,796 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $13.14, for a total transaction of $509,779.44. Following the transaction, the director now owns 71,186 shares of the company’s stock, valued at approximately $935,384.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $13.29, for a total transaction of $33,225.00. Following the transaction, the chief financial officer now owns 191,578 shares of the company’s stock, valued at approximately $2,546,071.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Geoffrey Moore sold 38,796 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.14, for a total value of $509,779.44. Following the transaction, the director now directly owns 71,186 shares in the company, valued at approximately $935,384.04. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

Large investors have recently bought and sold shares of the business. Pinnacle Wealth Management Advisory Group LLC purchased a new position in nLIGHT during the 4th quarter valued at $150,000. ProShare Advisors LLC boosted its holdings in nLIGHT by 15.0% during the 1st quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after acquiring an additional 1,503 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in nLIGHT by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock valued at $172,000 after acquiring an additional 1,886 shares during the period. International Assets Investment Management LLC boosted its holdings in nLIGHT by 1,212.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,500 shares of the company’s stock valued at $182,000 after acquiring an additional 12,471 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in nLIGHT by 9.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock valued at $181,000 after acquiring an additional 1,220 shares during the period. 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.