nLIGHT (NASDAQ:LASR) Now Covered by Cantor Fitzgerald

by · The Markets Daily

Investment analysts at Cantor Fitzgerald initiated coverage on shares of nLIGHT (NASDAQ:LASR – Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $15.50 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 40.53% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Benchmark reaffirmed a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of nLIGHT in a report on Monday, August 5th.

Read Our Latest Research Report on LASR

nLIGHT Stock Up 2.5 %

LASR opened at $11.03 on Thursday. The stock has a market cap of $524.64 million, a P/E ratio of -10.81 and a beta of 2.36. nLIGHT has a 12 month low of $8.13 and a 12 month high of $15.00. The company has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $11.78.

nLIGHT (NASDAQ:LASR – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. The business had revenue of $50.51 million for the quarter, compared to analysts’ expectations of $49.23 million. During the same quarter in the previous year, the business posted ($0.18) EPS. nLIGHT’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts expect that nLIGHT will post -0.96 earnings per share for the current fiscal year.

Insider Transactions at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the business’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 sale, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at $1,961,204.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nLIGHT

A number of institutional investors and hedge funds have recently modified their holdings of LASR. Vanguard Group Inc. increased its position in nLIGHT by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company’s stock worth $65,855,000 after buying an additional 23,697 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in nLIGHT by 18.1% during the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after purchasing an additional 309,634 shares during the last quarter. Clearbridge Investments LLC boosted its position in nLIGHT by 0.7% during the first quarter. Clearbridge Investments LLC now owns 1,656,803 shares of the company’s stock worth $21,538,000 after purchasing an additional 12,014 shares during the period. Divisar Capital Management LLC increased its holdings in shares of nLIGHT by 9.4% in the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after purchasing an additional 133,023 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of nLIGHT by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company’s stock valued at $12,547,000 after purchasing an additional 47,267 shares during the period. 83.88% of the stock is owned by institutional investors.

About nLIGHT

(Get Free Report)

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.

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