Nlight (NASDAQ:LASR) PT Lowered to $21.00 at Needham & Company LLC

Nlight (NASDAQ:LASR) had its price target cut by Needham & Company LLC to $21.00 in a research report released on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.

Separately, Zacks Investment Research cut Hess Midstream Partners from a hold rating to a sell rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Nlight currently has an average rating of Hold and a consensus price target of $25.13.

Shares of LASR stock opened at $15.20 on Wednesday. The company has a market capitalization of $562.48 million, a PE ratio of 63.33, a P/E/G ratio of 5.79 and a beta of 2.02. The company has a 50 day moving average of $18.20. Nlight has a 1 year low of $14.78 and a 1 year high of $41.78.



Nlight (NASDAQ:LASR) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The business 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%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share. As a group, research analysts expect that Nlight will post 0.09 EPS for the current year.

In related news, insider Robert Martinsen sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $26.39, for a total value of $52,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ran Bareket sold 5,000 shares of the business’s stock in a transaction that occurred 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 quarter, insiders sold 25,370 shares of company stock valued at $591,067. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASR. Citigroup Inc. lifted its stake in Nlight by 34.0% during the fourth quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock worth $46,000 after purchasing an additional 650 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Nlight by 112.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock worth $51,000 after purchasing an additional 1,214 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in Nlight during the first quarter worth $52,000. Optimum Investment Advisors bought a new stake in Nlight during the first quarter worth $58,000. Finally, Legal & General Group Plc lifted its stake in Nlight by 302.6% during the fourth quarter. Legal & General Group Plc now owns 4,119 shares of the company’s stock worth $73,000 after purchasing an additional 3,096 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Nlight

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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