FY2024 Earnings Forecast for nLIGHT, Inc. Issued By Cantor Fitzgerald (NASDAQ:LASR)

nLIGHT, Inc. (NASDAQ:LASR) – Equities research analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for shares of nLIGHT in a research report issued on Thursday, October 3rd. Cantor Fitzgerald analyst J. Siegler anticipates that the company will post earnings per share of ($1.02) for the year. Cantor Fitzgerald has a “Overweight” rating and a $15.50 price objective on the stock. The consensus estimate for nLIGHT’s current full-year earnings is ($0.96) per share.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. The firm had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. During the same period last year, the company posted ($0.18) EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis.

Other equities research analysts also recently issued research reports about the company. Benchmark reiterated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of nLIGHT in a report on Monday, August 5th.

nLIGHT Stock Performance

Shares of NASDAQ:LASR opened at $11.03 on Monday. nLIGHT has a one year low of $8.13 and a one year high of $15.00. The stock has a fifty day moving average of $11.07 and a 200-day moving average of $11.77. The company has a market capitalization of $524.64 million, a PE ratio of -10.81 and a beta of 2.35.

Insiders Place Their Bets

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at $1,961,204.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On nLIGHT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invenomic Capital Management LP acquired a new stake in nLIGHT during the fourth quarter worth about $1,139,000. Divisar Capital Management LLC lifted its stake in nLIGHT by 9.4% during the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after purchasing an additional 133,023 shares during the period. GSA Capital Partners LLP lifted its stake in nLIGHT by 112.0% during the first quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock worth $857,000 after purchasing an additional 34,844 shares during the period. Vanguard Group Inc. lifted its stake in nLIGHT by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company’s stock worth $65,855,000 after purchasing an additional 23,697 shares during the period. Finally, ProShare Advisors LLC lifted its stake in 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 purchasing an additional 1,503 shares during the period. 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.