Zacks Investment Research Downgrades Nlight (LASR) to Sell

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Zacks Investment Research downgraded shares of Nlight (NASDAQ:LASR) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber laser. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a buy rating and set a $26.00 price objective (down from $27.00) on shares of Nlight in a report on Thursday, May 9th. Craig Hallum assumed coverage on Nlight in a report on Friday, February 8th. They issued a hold rating and a $20.00 price target for the company. Finally, Northcoast Research reissued a hold rating on shares of Nlight in a report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Nlight has a consensus rating of Hold and an average price target of $28.40.

LASR stock traded down $1.31 during midday trading on Tuesday, hitting $21.19. 3,284 shares of the stock were exchanged, compared to its average volume of 325,076. The stock has a market cap of $820.14 million and a PE ratio of 66.34. Nlight has a fifty-two week low of $16.25 and a fifty-two week high of $43.63.

Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05. The firm had revenue of $41.86 million during the quarter, compared to analysts’ expectations of $42.47 million. Nlight had a return on equity of 4.77% and a net margin of 5.13%. Nlight’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, sell-side analysts anticipate that Nlight will post 0.14 EPS for the current year.

In related news, major shareholder Sixth Mdv Partners, L.L.C. sold 200,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $22.95, for a total value of $4,590,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ran Bareket sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $25.07, for a total value of $125,350.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,000 shares of company stock valued at $5,569,925.

A number of institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC purchased a new stake in Nlight during the fourth quarter valued at about $34,000. Oppenheimer Asset Management Inc. purchased a new stake in Nlight during the fourth quarter valued at about $38,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Nlight by 112.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock valued at $51,000 after acquiring an additional 1,214 shares during the period. Citigroup Inc. grew its position in Nlight by 34.0% during the fourth quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock valued at $46,000 after acquiring an additional 650 shares during the period. Finally, Optimum Investment Advisors purchased a new stake in Nlight during the first quarter valued at about $58,000. Hedge funds and other institutional investors own 80.97% of the company’s stock.

Nlight Company Profile

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used 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 Asia and Europe.

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