nLIGHT (NASDAQ:LASR) Rating Increased to Hold at Zacks Investment Research

nLIGHT (NASDAQ:LASR – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber lasers. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “

Several other research firms have also issued reports on LASR. Needham & Company LLC dropped their price target on nLIGHT from $35.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 18th. Craig Hallum lowered nLIGHT from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Friday, February 18th. DA Davidson dropped their price target on nLIGHT from $48.00 to $38.00 in a research report on Friday, February 18th. The Street lowered nLIGHT from a “c-” rating to a “d” rating in a research report on Friday, February 18th. Finally, Raymond James dropped their price target on nLIGHT from $50.00 to $40.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $31.00.

Shares of LASR traded down $0.45 during trading on Wednesday, reaching $14.58. The company’s stock had a trading volume of 198,612 shares, compared to its average volume of 294,504. The company has a fifty day moving average of $16.52 and a two hundred day moving average of $21.92. nLIGHT has a twelve month low of $13.85 and a twelve month high of $36.95. The company has a market cap of $646.43 million, a price-to-earnings ratio of -20.83 and a beta of 2.36.

nLIGHT (NASDAQ:LASR – Get Rating) last posted its quarterly earnings results on Thursday, February 17th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.16. nLIGHT had a negative return on equity of 8.89% and a negative net margin of 10.98%. During the same quarter last year, the company posted ($0.10) EPS. On average, analysts anticipate that nLIGHT will post -0.63 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sittner & Nelson LLC grew its stake in shares of nLIGHT by 5.5% in the third quarter. Sittner & Nelson LLC now owns 30,584 shares of the company’s stock worth $862,000 after purchasing an additional 1,600 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in shares of nLIGHT in the third quarter worth $362,000. Panagora Asset Management Inc. grew its stake in shares of nLIGHT by 62.2% in the third quarter. Panagora Asset Management Inc. now owns 90,502 shares of the company’s stock worth $2,551,000 after purchasing an additional 34,718 shares in the last quarter. Barclays PLC lifted its holdings in shares of nLIGHT by 174.2% in the third quarter. Barclays PLC now owns 17,383 shares of the company’s stock valued at $490,000 after buying an additional 11,044 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of nLIGHT by 9.0% in the third quarter. Arizona State Retirement System now owns 10,494 shares of the company’s stock valued at $296,000 after buying an additional 863 shares during the period. Hedge funds and other institutional investors own 90.18% of the company’s stock.

nLIGHT Company Profile (Get Rating)

nLIGHT, Inc designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications.

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