Senvest Management LLC cut its holdings in nLight (NASDAQ:LASR – Free Report) by 76.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,454 shares of the company’s stock after selling 758,047 shares during the period. Senvest Management LLC’s holdings in nLight were worth $13,654,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in LASR. Osaic Holdings Inc. increased its holdings in nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares in the last quarter. Financial Consulate Inc. purchased a new stake in shares of nLight in the fourth quarter valued at about $41,000. Finally, Wexford Capital LP acquired a new stake in shares of nLight in the third quarter valued at approximately $41,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
LASR has been the subject of a number of recent research reports. Wall Street Zen cut shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Roth Capital reaffirmed a “buy” rating and issued a $81.00 target price on shares of nLight in a research note on Friday, April 24th. Needham & Company LLC increased their target price on nLight from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Craig Hallum raised their price target on nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $80.94.
nLight Trading Down 4.1%
NASDAQ:LASR opened at $70.02 on Friday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -233.39 and a beta of 2.30. The company’s 50-day moving average is $69.35 and its two-hundred day moving average is $62.78. nLight has a 12-month low of $18.62 and a 12-month high of $86.95.
nLight (NASDAQ:LASR – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.12. The company had revenue of $80.18 million for the quarter, compared to analysts’ expectations of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The firm’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period last year, the company earned ($0.04) EPS. On average, equities research analysts forecast that nLight will post -0.17 earnings per share for the current fiscal year.
Insider Activity at nLight
In related news, CFO Joseph John Corso sold 35,476 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40. Following the sale, the chief financial officer owned 177,572 shares in the company, valued at approximately $12,501,068.80. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 46,735 shares of nLight stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total transaction of $3,200,412.80. Following the completion of the sale, the chief executive officer directly owned 2,375,519 shares of the company’s stock, valued at $162,675,541.12. The trade was a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 391,038 shares of company stock worth $28,367,419 in the last three months. Insiders own 3.10% of the company’s stock.
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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.
Further Reading
- Five stocks we like better than nLight
- AMD and Cerbras Create A New Blueprint For Hardware
- Intel Earnings Reveal Whether the Chip Selloff Created a Buy
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
Want to see what other hedge funds are holding LASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nLight (NASDAQ:LASR – Free Report).
Receive News & Ratings for nLight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nLight and related companies with MarketBeat.com's FREE daily email newsletter.
