Nlight (LASR) PT Lowered to $14.00

Nlight (NASDAQ:LASR) had its target price reduced by Benchmark from $17.00 to $14.00 in a report issued on Tuesday morning, Marketbeat reports. They currently have a sell rating on the stock.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Nlight from a sell rating to a hold rating in a research report on Tuesday, September 11th. Northcoast Research lowered Nlight from a buy rating to a neutral rating in a research report on Monday, October 8th. DA Davidson cut their target price on Nlight to $30.00 and set a buy rating on the stock in a research report on Tuesday. Raymond James raised Nlight from an outperform rating to a strong-buy rating and set a $40.00 target price on the stock in a research report on Friday, September 21st. Finally, Stifel Nicolaus cut their target price on Nlight from $40.00 to $32.00 and set a buy rating on the stock in a research report on Monday, October 8th. 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 company. The stock has an average rating of Buy and a consensus price target of $33.50.

Shares of LASR stock traded down $0.31 during trading on Tuesday, hitting $20.48. 262,400 shares of the stock traded hands, compared to its average volume of 483,894. 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 has a 52-week low of $16.25 and a 52-week high of $43.63.

Nlight (NASDAQ:LASR) last released its quarterly earnings results on Monday, November 5th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $51.03 million for the quarter, compared to analysts’ expectations of $49.20 million. The firm’s revenue was up 39.6% on a year-over-year basis. As a group, research analysts expect that Nlight will post 0.31 earnings per share for the current fiscal year.

In other news, insider Scott H. Keeney sold 180,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bandel L. Carano sold 1,109,417 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total value of $28,223,568.48. 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.

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Nlight during the second quarter worth $107,000. Bank of Montreal Can purchased a new stake in shares of Nlight during the second quarter worth $158,000. Rhumbline Advisers purchased a new stake in shares of Nlight during the second quarter worth $202,000. Essex Investment Management Co. LLC purchased a new stake in shares of Nlight during the second quarter worth $225,000. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Nlight during the second quarter worth $317,000. 47.10% of the stock is currently owned by institutional investors and hedge funds.

About Nlight

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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Analyst Recommendations for Nlight (NASDAQ:LASR)

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