nLIGHT (NASDAQ:LASR) Now Covered by Analysts at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald started coverage on shares of nLIGHT (NASDAQ:LASR) in a note issued to investors on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $15.50 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 47.48% from the stock’s previous close.

A number of other equities analysts have also commented on LASR. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th. Benchmark reissued a “speculative buy” rating and issued a $17.00 price target on shares of nLIGHT in a research report on Friday, August 2nd.

nLIGHT Stock Performance

Shares of LASR opened at $10.51 on Thursday. The firm has a market cap of $499.91 million, a PE ratio of -10.30 and a beta of 2.36. The firm’s 50 day moving average price is $11.15 and its 200 day moving average price is $11.80. nLIGHT has a twelve month low of $8.13 and a twelve month high of $15.00.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The company had revenue of $50.51 million for the quarter, compared to analyst estimates of $49.23 million. During the same quarter last year, the firm posted ($0.18) earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that nLIGHT will post -0.96 earnings per share for the current fiscal year.

Insider Transactions at nLIGHT

In other news, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total value of $51,033.84. Following the sale, the chief financial officer now owns 171,434 shares in the company, valued at $1,961,204.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nLIGHT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC acquired a new stake in nLIGHT during the fourth quarter worth $473,000. Invenomic Capital Management LP bought a new stake in nLIGHT during the 4th quarter worth about $1,139,000. Pinnacle Associates Ltd. raised its holdings in nLIGHT by 1.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,711,135 shares of the company’s stock worth $22,245,000 after purchasing an additional 17,314 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in nLIGHT by 79.1% during the 1st quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company’s stock worth $284,000 after purchasing an additional 9,635 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in nLIGHT by 112.0% during the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock worth $857,000 after purchasing an additional 34,844 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

About nLIGHT

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.