Algert Global LLC Buys 156,043 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Algert Global LLC raised its position in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 268.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 214,250 shares of the company's stock after acquiring an additional 156,043 shares during the quarter. Algert Global LLC owned approximately 0.44% of nLIGHT worth $2,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp grew its position in shares of nLIGHT by 11.1% in the 4th quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock worth $1,675,000 after buying an additional 15,904 shares during the last quarter. Raymond James Financial Inc. purchased a new position in nLIGHT during the fourth quarter valued at $1,976,000. Stephens Investment Management Group LLC boosted its stake in nLIGHT by 20.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company's stock worth $9,932,000 after acquiring an additional 162,903 shares in the last quarter. Barclays PLC grew its stake in shares of nLIGHT by 317.7% in the 3rd quarter. Barclays PLC now owns 70,599 shares of the company's stock worth $755,000 after buying an additional 53,699 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of nLIGHT by 145.0% in the 4th quarter. Franklin Resources Inc. now owns 64,295 shares of the company's stock worth $674,000 after purchasing an additional 38,050 shares during the last quarter. 83.88% of the stock is owned by institutional investors.

Insider Buying and Selling at nLIGHT

In other news, CEO Scott H. Keeney sold 53,511 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total transaction of $437,184.87. Following the sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at $10,358,963.59. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company's stock.

nLIGHT Stock Up 35.3 %

LASR traded up $3.04 during trading on Friday, hitting $11.65. The company's stock had a trading volume of 1,455,940 shares, compared to its average volume of 334,257. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The business's 50 day simple moving average is $8.07 and its 200-day simple moving average is $9.93. The firm has a market cap of $575.96 million, a PE ratio of -11.31 and a beta of 2.02.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The business had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. The business's quarterly revenue was up 16.2% on a year-over-year basis. Equities research analysts expect that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Needham & Company LLC decreased their target price on shares of nLIGHT from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Craig Hallum raised shares of nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price objective for the company in a report on Friday. Finally, Stifel Nicolaus dropped their target price 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $14.90.

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.