Nlight (LASR) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Nlight (NASDAQ:LASR) from a hold rating to a sell rating in a research report released on Wednesday.

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. “

A number of other research firms have also recently weighed in on LASR. Benchmark lowered their target price on shares of Nlight from $17.00 to $14.00 and set a sell rating on the stock in a research note on Tuesday, November 6th. Craig Hallum assumed coverage on shares of Nlight in a research note on Friday, February 8th. They issued a hold rating and a $20.00 target price on the stock. UBS Group assumed coverage on shares of Nlight in a research note on Friday, November 30th. They issued a neutral rating on the stock. DA Davidson lowered their target price on shares of Nlight to $30.00 and set a buy rating on the stock in a research note on Tuesday, November 6th. Finally, Northcoast Research reissued a hold rating on shares of Nlight in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $28.50.

NASDAQ LASR opened at $21.44 on Wednesday. The stock has a market capitalization of $768.01 million and a P/E ratio of 77.78. Nlight has a twelve month low of $16.25 and a twelve month high of $43.63. The company has a current ratio of 9.12, a quick ratio of 7.71 and a debt-to-equity ratio of 0.08.

Nlight (NASDAQ:LASR) last posted its earnings results on Wednesday, February 20th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. The business had revenue of $46.16 million for the quarter, compared to analysts’ expectations of $46.64 million. Nlight had a net margin of 7.28% and a return on equity of 9.33%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. As a group, research analysts anticipate that Nlight will post 0.21 earnings per share for the current fiscal year.

In other Nlight news, CFO Ran Bareket sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $20.19, for a total transaction of $100,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert Martinsen sold 1,378 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $19.98, for a total transaction of $27,532.44. The disclosure for this sale can be found here. Insiders have sold 28,687 shares of company stock worth $573,487 over the last ninety days.

A number of institutional investors have recently modified their holdings of the business. Citigroup Inc. grew 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 buying an additional 650 shares during the last quarter. Advisor Group Inc. grew its stake in Nlight by 55.3% during the fourth quarter. Advisor Group Inc. now owns 4,578 shares of the company’s stock worth $81,000 after buying an additional 1,631 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Nlight during the fourth quarter worth about $34,000. Oppenheimer Asset Management Inc. bought a new stake in Nlight during the fourth quarter worth about $38,000. Finally, LPL Financial LLC grew its stake in Nlight by 20.9% during the fourth quarter. LPL Financial LLC now owns 15,168 shares of the company’s stock worth $270,000 after buying an additional 2,624 shares during the last quarter. 70.97% of the stock is currently owned by hedge funds and other institutional investors.

Nlight Company Profile

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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