nLight and Akoustis – Two tech stocks with good potential

nLight and Akoustis  – Two tech stocks with good potential

The stock market is full of various choices. There are energy stocks, internet stocks, penny stocks, tech stocks, and so on. However, the last ones are often very profitable, and Wall Street experts frequently analyze them. Sometimes all it takes is one product, for stocks to skyrocket and after that, proper management and development to stay afloat.

Even so, the market undergoes heavy influence from political and economic stimuli. While the major tech stocks ended 2019 in green, 2020 has been very turbulent so far. Even giant companies weren’t spared. However, some stocks are still auspicious and nLight is among them.

This company produces lasers, such as single emitters, diode systems, fiber-optic lasers, and diode laser stacks for high-tech manufacturing industries. It has a worldwide sales base.

2020 was tough on nLight so far. The company’s shares fell by 12% since the beginning of the year. It also suffered losses both in fourth-quarter revenue and earnings. However, while at the bottom line, the EPS net lost 6 cents, on the top line, revenue beat the forecast by 12%. It reached $42.9 million.

Experts think that despite the bad recent data, the stock will rebound soon. According to John Marchetti, Stifel Nicolaus analyst, nLight’s focus on higher-powered lasers, new market applications, and programmability should boost the stock soon.

Marchetti dubbed the stock as a strong buy, raising his price target from $21 to $26, with a 45% upside potential. Presently the average price target is $24.75. If it is met, the investors will gain 38%.

What about Akoustis Technologies?

Akoustis Technologies produces the crystal-based piezoelectric components of BAW filters, found in mobile wireless devices, including smartphones.

The company’s shares rose by 61% in 2019. Analysts are encouraged by initial volume orders from infrastructure customers. Sujeeva De Silva, Roth Capital’s analyst, stated that this stock is a good choice. The analyst set the price target at $10, with a 25% upside potential. 

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