Equities Analysts Issue Forecasts for nLIGHT FY2024 Earnings

nLIGHT, Inc. (NASDAQ:LASR) – Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for nLIGHT in a report released on Thursday, January 16th. Cantor Fitzgerald analyst T. Jensen now anticipates that the company will earn ($1.09) per share for the year, down from their previous forecast of ($1.05). Cantor Fitzgerald currently has a “Overweight” rating and a $15.50 price objective on the stock. The consensus estimate for nLIGHT’s current full-year earnings is ($1.10) per share.

Other research analysts also recently issued reports about the company. Stifel Nicolaus decreased their price objective on nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Needham & Company LLC reduced their price target on nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday.

nLIGHT Trading Up 3.3 %

LASR stock opened at $11.47 on Monday. The stock has a 50-day moving average price of $10.78 and a two-hundred day moving average price of $11.19. nLIGHT has a 1 year low of $9.15 and a 1 year high of $14.75. The stock has a market cap of $555.48 million, a PE ratio of -11.14 and a beta of 2.19.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data 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). nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The company had revenue of $56.13 million for the quarter, compared to the consensus estimate of $55.71 million. During the same period in the prior year, the company earned ($0.24) EPS.

Insider Buying and Selling at nLIGHT

In other news, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.92, for a total transaction of $27,300.00. Following the completion of the sale, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.35, for a total value of $155,250.00. Following the transaction, the chief executive officer now owns 1,348,891 shares in the company, valued at approximately $13,961,021.85. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,019 shares of company stock worth $692,565 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd increased its stake in nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after acquiring an additional 3,913 shares during the period. nVerses Capital LLC increased its position in shares of nLIGHT by 500.0% in the third 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in nLIGHT in the third quarter valued at about $50,000. Quantbot Technologies LP lifted its position in nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after purchasing an additional 2,052 shares during the period. Finally, International Assets Investment Management LLC grew its stake in nLIGHT by 969.0% during the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock worth $114,000 after buying an additional 9,690 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

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.