Nlight (NASDAQ:LASR) Stock Rating Lowered by Zacks Investment Research

Nlight (NASDAQ:LASR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, 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 research analysts have also weighed in on the stock. ValuEngine upgraded shares of Nlight from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Craig Hallum dropped their target price on shares of Nlight from $23.00 to $16.00 and set an “in-line” rating for the company in a research report on Tuesday, August 6th. DA Davidson reissued a “buy” rating and set a $20.00 target price on shares of Nlight in a research report on Tuesday, August 6th. Needham & Company LLC dropped their target price on shares of Nlight from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Canaccord Genuity dropped their target price on shares of Nlight from $28.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.86.

Shares of NASDAQ:LASR traded up $3.66 on Friday, reaching $20.62. 967,400 shares of the company were exchanged, compared to its average volume of 334,784. The firm has a market cap of $640.40 million, a price-to-earnings ratio of 64.44 and a beta of 2.11. Nlight has a 1-year low of $12.60 and a 1-year high of $26.77. The company has a 50-day moving average of $14.86 and a 200-day moving average of $17.10.

Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The company had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $43.92 million. Nlight had a return on equity of 0.09% and a net margin of 0.11%. The company’s revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. As a group, analysts expect that Nlight will post -0.18 earnings per share for the current year.

In related news, insider Robert Martinsen sold 24,905 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.45, for a total transaction of $4,967,302.25. 5.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in Nlight by 21.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,919,560 shares of the company’s stock valued at $30,061,000 after acquiring an additional 337,561 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Nlight in the third quarter valued at approximately $1,527,000. California Public Employees Retirement System grew its position in Nlight by 19.5% in the third quarter. California Public Employees Retirement System now owns 53,300 shares of the company’s stock valued at $835,000 after acquiring an additional 8,700 shares in the last quarter. Stephens Investment Management Group LLC grew its position in shares of Nlight by 13.9% during the third quarter. Stephens Investment Management Group LLC now owns 600,458 shares of the company’s stock worth $9,403,000 after buying an additional 73,323 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nlight by 43.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,300 shares of the company’s stock worth $52,000 after buying an additional 1,005 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: Gross Domestic Product (GDP)

Get a free copy of the Zacks research report on Nlight (LASR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nlight (NASDAQ:LASR)

Receive News & Ratings for Nlight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nlight and related companies with MarketBeat.com's FREE daily email newsletter.