nLIGHT, Inc. (NASDAQ:LASR - Free Report) - Cantor Fitzgerald dropped their FY2024 earnings per share (EPS) estimates for nLIGHT in a note issued to investors on Thursday, January 16th. Cantor Fitzgerald analyst T. Jensen now forecasts that the company will post earnings of ($1.09) per share for the year, down from their prior forecast of ($1.05). Cantor Fitzgerald has a "Overweight" rating and a $15.50 price objective on the stock. The consensus estimate for nLIGHT's current full-year earnings is ($1.03) per share.
Several other equities research analysts also recently commented on LASR. Needham & Company LLC lifted their target price on shares of nLIGHT from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Stifel Nicolaus reduced their price objective on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th.
Check Out Our Latest Report on LASR
nLIGHT Price Performance
LASR stock traded up $0.64 during midday trading on Monday, reaching $11.10. 627,125 shares of the stock were exchanged, compared to its average volume of 375,512. The company has a fifty day moving average price of $10.77 and a 200 day moving average price of $11.19. nLIGHT has a 52 week low of $9.15 and a 52 week high of $14.75. The stock has a market capitalization of $537.57 million, a PE ratio of -10.78 and a beta of 2.19.
Insider Activity
In related news, CFO Joseph John Corso sold 2,500 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.92, for a total value of $27,300.00. Following the sale, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the transaction, the chief executive officer now owns 1,347,781 shares of the company's stock, valued at $18,505,033.13. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,019 shares of company stock worth $692,565 in the last three months. Company insiders own 6.10% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of LASR. Harvey Partners LLC grew its stake in nLIGHT by 56.5% in the 3rd quarter. Harvey Partners LLC now owns 1,735,000 shares of the company's stock valued at $18,547,000 after purchasing an additional 626,500 shares during the period. Royce & Associates LP increased its holdings in nLIGHT by 9.1% during the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company's stock worth $29,221,000 after buying an additional 227,580 shares during the last quarter. Needham Investment Management LLC boosted its stake in nLIGHT by 7.1% in the third quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company's stock valued at $24,990,000 after acquiring an additional 155,000 shares during the last quarter. Divisar Capital Management LLC grew its position in shares of nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company's stock valued at $16,897,000 after acquiring an additional 133,023 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in shares of nLIGHT during the 3rd quarter worth approximately $1,342,000. Institutional investors own 83.88% of the company's stock.
About nLIGHT
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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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