Why Shares of nLIGHT, Inc. (LASR) Are -5.69% Lower Today

nLIGHT, Inc. (NASDAQ:LASR) is one of the worst performers on the stock market today. At current price of $21.22, the shares have already lost -1.28 points (-5.69% lower) from its previous close of $22.5. Should you buy or avoid them? The stock sets an active trading volume day with a reported 214980 contracts so far this session. LASR shares had a relatively better volume day versus average trading capacity of 427.18 thousand shares, but with a 32.67 million float and a -9.82% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LASR stock indicates that the average analyst price target is $25.88 per share. This means the stock has a potential increase of 21.96% from where the LASR share price has been trading recently which is between $22.395 and $23.61. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $14.

The shorts are running away from nLIGHT, Inc. (LASR) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in LASR shares. While short interest still represents only 9.27% of LASR’s float, the number of shares shorted have fallen by -46834. The number of shares shorted fell to 2982372 shares, down from 3029206 shares during the preceding fortnight. With average daily trading volumes at 251224 shares, days to cover increased to about 8.314913 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Is nLIGHT, Inc. (NASDAQ:LASR) Struggling With Its 7.5% Return On Capital Employed?” and dated May 09, 2019.

During the recent trading session for nLIGHT, Inc. (NASDAQ:LASR), the company witnessed their stock drop by $-3.79 over a week and tumble down $-3.23 from the price 20 days ago. When compared to their established 52-week high of $43.63, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/18/18. The recent low of $16.25 stood for a -51.36% since 10/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for nLIGHT, Inc., the two-week RSI stands at 34.41. This figure suggests that LASR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current LASR readings is similarly very revealing as it has a stochastic reading of 12.99% at this stage. This figure means that LASR share price today is being overbought.

Technical chart claims that nLIGHT, Inc. (LASR) would settle between $23.27/share to $24.05/share level. However, if the stock price goes below the $22.06 mark, then the market for nLIGHT, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $21.62 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.23. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at The Benchmark Company raised their recommendation on shares of LASR from Sell to Hold in their opinion released on May 09. Needham analysts again handed out a Buy recommendation to nLIGHT, Inc. (NASDAQ:LASR) stock but they lifted target price for the shares in a flash note issued to investors on May 09. The target price has been raised from $27 to $26. Analysts at Needham are sticking to their Buy stance. However, on December 10, they lifted price target for these shares to $27 from $29.

LASR equity has an average rating of 2.1, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated nLIGHT, Inc. (NASDAQ:LASR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

nLIGHT, Inc. (LASR)’s current-quarter revenues are projected to climb by nearly -6.46% to hit $48.37 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 3.61% from $191360 to a noteworthy $198260. At the other end of the current quarter income statement, nLIGHT, Inc. is expected to see its adjusted earnings surge by roughly -50% to hit $0.07 per share. For the fiscal year, LASR’s earnings are projected to climb by roughly -26.53% to hit $0.36 per share.