Zacks Investment Research Downgrades Nlight (LASR) to Sell

Nlight (NASDAQ:LASR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

Other analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target (down previously from $27.00) on shares of Nlight in a research note on Thursday, May 9th. Craig Hallum started coverage on shares of Nlight in a research note on Friday, February 8th. They set a “hold” rating and a $20.00 price target for the company. Finally, Northcoast Research reaffirmed a “hold” rating on shares of Nlight in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Nlight currently has an average rating of “Hold” and a consensus price target of $28.40.

Nlight stock opened at $22.49 on Tuesday. Nlight has a fifty-two week low of $16.25 and a fifty-two week high of $43.63. The company has a market cap of $921.48 million and a PE ratio of 70.28.

Nlight (NASDAQ:LASR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. Nlight had a net margin of 5.13% and a return on equity of 4.88%. The firm had revenue of $41.86 million during the quarter, compared to the consensus estimate of $42.47 million. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts expect that Nlight will post 0.21 EPS for the current fiscal year.

In related news, CFO Ran Bareket sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $20.53, for a total value of $102,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Martinsen sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $26.39, for a total transaction of $52,780.00. The disclosure for this sale can be found here. Insiders sold 242,000 shares of company stock valued at $5,569,925 in the last three months.

A number of large investors have recently modified their holdings of LASR. Quantamental Technologies LLC bought a new position in Nlight in the fourth quarter worth approximately $34,000. Oppenheimer Asset Management Inc. bought a new position in Nlight in the fourth quarter worth approximately $38,000. Citigroup Inc. raised its stake in Nlight by 34.0% in the fourth quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock worth $46,000 after buying an additional 650 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nlight by 112.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock worth $51,000 after buying an additional 1,214 shares in the last quarter. Finally, Optimum Investment Advisors bought a new position in Nlight in the first quarter worth approximately $58,000. 75.64% of the stock is owned by institutional investors.

About Nlight

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used 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 Asia and Europe.

See Also: What is Cost of Capital?

Get a free copy of the Zacks research report on Nlight (LASR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nlight (NASDAQ:LASR)

Receive News & Ratings for Nlight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nlight and related companies with MarketBeat.com's FREE daily email newsletter.