nLIGHT, Inc. (NASDAQ:LASR – Free Report) – Stock analysts at Cantor Fitzgerald dropped their FY2024 EPS estimates for shares of nLIGHT in a note issued to investors on Thursday, January 16th. Cantor Fitzgerald analyst T. Jensen now anticipates that the company will post earnings per share of ($1.09) for the year, down from their prior estimate of ($1.05). Cantor Fitzgerald currently has a “Overweight” rating and a $15.50 target price on the stock. The consensus estimate for nLIGHT’s current full-year earnings is ($1.10) per share.
nLIGHT (NASDAQ:LASR – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The company had revenue of $56.13 million for the quarter, compared to the consensus estimate of $55.71 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. During the same quarter last year, the company posted ($0.24) EPS.
Get Our Latest Stock Analysis on nLIGHT
nLIGHT Trading Up 3.3 %
NASDAQ LASR opened at $11.47 on Monday. nLIGHT has a 1 year low of $9.15 and a 1 year high of $14.75. The company has a fifty day simple moving average of $10.78 and a 200 day simple moving average of $11.19. The company has a market cap of $555.48 million, a P/E ratio of -11.14 and a beta of 2.19.
Insiders Place Their Bets
In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at $18,505,033.13. The trade was a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joseph John Corso sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total transaction of $27,300.00. Following the sale, the chief financial officer now directly owns 155,129 shares in the company, valued at approximately $1,694,008.68. This represents a 1.59 % 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 over the last quarter. Company insiders own 6.10% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd boosted its stake in nLIGHT by 1,637.2% in the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock valued at $44,000 after acquiring an additional 3,913 shares during the last quarter. nVerses Capital LLC boosted its position in shares of nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after purchasing an additional 3,500 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of nLIGHT during the third quarter worth $50,000. Quantbot Technologies LP increased its holdings in nLIGHT by 25.5% in the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after purchasing an additional 2,052 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in nLIGHT by 969.0% in the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after buying an additional 9,690 shares during the period. 83.88% of the stock is currently owned by institutional investors.
About nLIGHT
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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