FY2024 EPS Estimates for nLIGHT Reduced by Cantor Fitzgerald

nLIGHT, Inc. (NASDAQ:LASR) – Analysts at Cantor Fitzgerald dropped their FY2024 earnings estimates for nLIGHT in a research report issued 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 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 ($1.03) per share.

A number of other equities analysts have also recently weighed in on LASR. Needham & Company LLC increased their price target on nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus decreased their price objective on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

nLIGHT Price Performance

nLIGHT stock opened at $11.10 on Monday. The stock has a market cap of $537.57 million, a price-to-earnings ratio of -10.78 and a beta of 2.19. The firm has a 50 day simple moving average of $10.77 and a 200-day simple moving average of $11.19. nLIGHT has a 1-year low of $9.15 and a 1-year high of $14.75.

Institutional Investors Weigh In On nLIGHT

Several large investors have recently modified their holdings of LASR. Point72 DIFC Ltd raised 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 valued at $44,000 after acquiring an additional 3,913 shares during the last quarter. nVerses Capital LLC grew its position in nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after buying an additional 3,500 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in nLIGHT in the 3rd quarter valued at approximately $50,000. Quantbot Technologies LP increased its position in shares of 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 buying an additional 2,052 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of nLIGHT by 969.0% in the 3rd 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.

Insider Activity at nLIGHT

In related news, CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the transaction, the chief financial officer now directly owns 155,129 shares in the company, valued at approximately $1,694,008.68. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,019 shares of company stock valued at $692,565 over the last 90 days. 6.10% of the stock is owned by corporate insiders.

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.