nLIGHT (NASDAQ:LASR) Shares Up 9.7% - Time to Buy?

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) shares rose 9.7% during mid-day trading on Monday . The company traded as high as $11.36 and last traded at $11.33. Approximately 41,687 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 215,121 shares. The stock had previously closed at $10.33.

Wall Street Analyst Weigh In

LASR has been the subject of a number of analyst reports. Cantor Fitzgerald started coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of nLIGHT in a research report on Monday, August 5th. Finally, Benchmark reaffirmed a "speculative buy" rating and issued a $17.00 target price on shares of nLIGHT in a research report on Friday, August 2nd.

nLIGHT Stock Up 28.1 %

The stock's 50-day simple moving average is $11.04 and its 200 day simple moving average is $11.60. The company has a market cap of $636.76 million, a price-to-earnings ratio of -12.25 and a beta of 2.35.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $50.51 million for the quarter, compared to analysts' expectations of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The business's quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) earnings per share. On average, sell-side analysts expect that nLIGHT, Inc. will post -0.98 EPS for the current fiscal year.

Insider Transactions at nLIGHT

In other news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the sale, the chief financial officer now owns 171,434 shares of the company's stock, valued at approximately $1,961,204.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Scott H. Keeney sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $11.20, for a total transaction of $168,000.00. Following the sale, the chief executive officer now directly owns 1,347,781 shares in the company, valued at approximately $15,095,147.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph John Corso sold 4,461 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,461 shares of company stock valued at $385,684. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of nLIGHT

A number of large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in shares of nLIGHT by 9.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company's stock worth $181,000 after buying an additional 1,220 shares during the period. ProShare Advisors LLC increased its stake in shares of nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company's stock worth $150,000 after buying an additional 1,503 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of nLIGHT by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company's stock worth $204,000 after buying an additional 1,546 shares during the period. Price T Rowe Associates Inc. MD increased its stake in nLIGHT by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company's stock valued at $172,000 after purchasing an additional 1,886 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake in nLIGHT by 6.7% in the second quarter. Squarepoint Ops LLC now owns 52,823 shares of the company's stock valued at $577,000 after purchasing an additional 3,332 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLIGHT Company Profile

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.