nLIGHT (NASDAQ:LASR) Shares Gap Up on Earnings Beat

Shares of nLIGHT, Inc. (NASDAQ:LASR) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $8.61, but opened at $11.03. nLIGHT shares last traded at $10.86, with a volume of 9,107 shares traded.

The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.13. The company had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. nLIGHT’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LASR shares. Craig Hallum upgraded nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday. Needham & Company LLC dropped their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus lowered their target price 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, nLIGHT has a consensus rating of “Buy” and an average price target of $14.90.

Insider Transactions at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the sale, the chief executive officer now owns 1,267,927 shares of the company’s stock, valued at approximately $10,358,963.59. This represents a 4.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On nLIGHT

Large investors have recently made changes to their positions in the stock. Senvest Management LLC boosted its position in shares of nLIGHT by 114.1% during the 4th quarter. Senvest Management LLC now owns 2,481,677 shares of the company’s stock valued at $26,033,000 after acquiring an additional 1,322,637 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of nLIGHT by 140.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company’s stock valued at $9,383,000 after buying an additional 705,215 shares during the period. Needham Investment Management LLC grew its position in nLIGHT by 13.4% in the fourth quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company’s stock worth $27,821,000 after acquiring an additional 314,375 shares during the period. Polar Capital Holdings Plc purchased a new stake in nLIGHT in the fourth quarter valued at $2,259,000. Finally, GSA Capital Partners LLP grew its holdings in shares of nLIGHT by 515.8% during the 1st quarter. GSA Capital Partners LLP now owns 229,168 shares of the company’s stock worth $1,781,000 after purchasing an additional 191,954 shares during the period. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLIGHT Stock Performance

The stock has a market capitalization of $575.96 million, a price-to-earnings ratio of -11.31 and a beta of 2.02. The business has a 50-day moving average of $8.07 and a 200-day moving average of $9.93.

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.