FY2024 EPS Estimates for nLIGHT Reduced by Cantor Fitzgerald

nLIGHT, Inc. (NASDAQ:LASR) – Cantor Fitzgerald lowered their FY2024 earnings 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 previous estimate of ($1.05). 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 ($1.03) per share.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC upped their target price on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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.

nLIGHT Stock Up 6.1 %

Shares of LASR stock opened at $11.10 on Monday. nLIGHT has a 12-month low of $9.15 and a 12-month high of $14.75. The firm has a fifty day moving average of $10.77 and a 200-day moving average of $11.19. The company has a market capitalization of $537.57 million, a price-to-earnings ratio of -10.78 and a beta of 2.19.

Insider Activity

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 $1,694,008.68. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,019 shares of company stock valued at $692,565. 6.10% of the stock is owned by company insiders.

Institutional Trading of nLIGHT

Several institutional investors and hedge funds have recently modified their holdings of LASR. SG Americas Securities LLC boosted its holdings in shares of nLIGHT by 19.4% during the 4th quarter. SG Americas Securities LLC now owns 20,022 shares of the company’s stock valued at $210,000 after acquiring an additional 3,250 shares in the last quarter. Moody National Bank Trust Division bought a new position in nLIGHT in the fourth quarter valued at about $115,000. Barclays PLC boosted its stake in shares of nLIGHT by 317.7% during the third quarter. Barclays PLC now owns 70,599 shares of the company’s stock valued at $755,000 after purchasing an additional 53,699 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of nLIGHT by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,103,920 shares of the company’s stock worth $11,804,000 after purchasing an additional 9,673 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of nLIGHT by 98.2% in the third quarter. Jane Street Group LLC now owns 138,646 shares of the company’s stock valued at $1,482,000 after buying an additional 68,682 shares during the period. 83.88% of the stock is currently owned by institutional investors.

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.