nLIGHT (NASDAQ:LASR) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of nLIGHT (NASDAQ:LASR) in a research note released on Thursday, MarketBeat reports. The firm issued an overweight rating and a $15.50 price target on the stock.

A number of other brokerages also recently issued reports on LASR. Benchmark reaffirmed a speculative buy rating and set a $17.00 price target on shares of nLIGHT in a report on Friday, August 2nd. Needham & Company LLC reiterated a buy rating and issued a $15.00 price target on shares of nLIGHT in a research note on Monday, August 5th.

nLIGHT Stock Performance

NASDAQ:LASR opened at $11.03 on Thursday. The firm has a 50-day simple moving average of $11.07 and a two-hundred day simple moving average of $11.78. The firm has a market cap of $524.64 million, a P/E ratio of -10.81 and a beta of 2.35. nLIGHT has a fifty-two week low of $8.13 and a fifty-two week high of $15.00.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS. On average, equities research analysts predict that nLIGHT will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Joseph John Corso sold 4,461 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the sale, the chief financial officer now owns 171,434 shares of the company’s stock, valued at $1,961,204.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On nLIGHT

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC lifted its position in nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after purchasing an additional 1,503 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of nLIGHT by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after buying an additional 1,886 shares during the period. SG Americas Securities LLC purchased a new position in shares of nLIGHT during the 3rd quarter valued at about $179,000. State Board of Administration of Florida Retirement System grew its stake in shares of 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. Finally, MQS Management LLC purchased a new stake in nLIGHT in the 2nd quarter worth approximately $197,000. 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.