DA Davidson Lowers Nlight (LASR) Price Target to $30.00

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Nlight (NASDAQ:LASR) had its target price cut by DA Davidson to $30.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on LASR. Needham & Company LLC decreased their target price on shares of Nlight from $37.00 to $29.00 and set a buy rating on the stock in a research note on Tuesday, October 23rd. Northcoast Research cut shares of Nlight from a buy rating to a neutral rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Nlight from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Tuesday, July 24th. Stifel Nicolaus reduced their price objective on shares of Nlight from $40.00 to $32.00 and set a buy rating on the stock in a research note on Monday, October 8th. Finally, Benchmark assumed coverage on shares of Nlight in a research note on Tuesday, August 28th. They issued a sell rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $33.50.

Shares of NASDAQ LASR traded down $0.85 during midday trading on Tuesday, reaching $21.11. 805 shares of the company were exchanged, compared to its average volume of 437,685. Nlight has a one year low of $16.25 and a one year high of $43.63. The company has a quick ratio of 4.69, a current ratio of 5.73 and a debt-to-equity ratio of 0.08.

Nlight (NASDAQ:LASR) last posted its earnings results on Monday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $51.03 million for the quarter, compared to the consensus estimate of $49.20 million. The firm’s revenue was up 39.6% compared to the same quarter last year. As a group, sell-side analysts expect that Nlight will post 0.31 earnings per share for the current year.

In related news, Director Bandel L. Carano sold 1,109,417 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $25.44, for a total value of $28,223,568.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott H. Keeney sold 180,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total transaction of $4,579,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,481,622 shares of company stock worth $63,132,464.

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Nlight by 214.8% in the third quarter. JPMorgan Chase & Co. now owns 14,527 shares of the company’s stock worth $322,000 after purchasing an additional 9,913 shares during the last quarter. Motley Fool Wealth Management LLC acquired a new position in Nlight in the third quarter valued at $5,733,000. Motley Fool Asset Management LLC acquired a new position in Nlight in the third quarter valued at $5,219,000. Wells Fargo & Company MN lifted its holdings in Nlight by 332.7% in the third quarter. Wells Fargo & Company MN now owns 299,844 shares of the company’s stock valued at $6,660,000 after buying an additional 230,540 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in Nlight in the third quarter valued at $1,494,000. 47.10% of the stock is currently owned by institutional investors.

Nlight Company Profile

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in North America, Asia, and Europe.

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