AIGH Capital Management LLC Sells 260,103 Shares of nLight $LASR

Key Points

• AIGH Capital Management cut its nLight stake by 43.3% in the first quarter, selling 260,103 shares and leaving it with 340,000 shares valued at about $19.4 million.
• Several analysts remain bullish on nLight, with recent upgrades and higher price targets; the stock’s consensus rating is Buy and the average target price is $75.50.
• nLight reported strong quarterly results, beating expectations with $0.20 EPS and $80.18 million in revenue, while revenue rose 55.2% year over year.

AIGH Capital Management LLC reduced its holdings in shares of nLight (NASDAQ:LASR - Free Report) by 43.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,000 shares of the company's stock after selling 260,103 shares during the quarter. nLight accounts for 2.6% of AIGH Capital Management LLC's portfolio, making the stock its 6th largest position. AIGH Capital Management LLC owned about 0.60% of nLight worth $19,387,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LASR. Osaic Holdings Inc. boosted its position in nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after purchasing an additional 1,727 shares during the period. Sunbelt Securities Inc. raised its position in 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 during the period. EverSource Wealth Advisors LLC raised its position in 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 during the period. Financial Consulate Inc. acquired a new position in shares of nLight during the fourth quarter worth about $41,000. Finally, Wexford Capital LP acquired a new position in shares of nLight during the third quarter worth about $41,000. Institutional investors and hedge funds own 83.88% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. William Blair assumed coverage on nLight in a research note on Friday, March 27th. They issued an "outperform" rating for the company. Needham & Company LLC boosted their price target on nLight from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Zacks Research raised nLight from a "hold" rating to a "strong-buy" rating in a research report on Monday. Stifel Nicolaus upped their price target on nLight from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 price objective on shares of nLight in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $75.50.

Insiders Place Their Bets

In other news, CFO Joseph John Corso sold 3,817 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $72.90, for a total transaction of $278,259.30. Following the completion of the transaction, the chief financial officer directly owned 169,915 shares in the company, valued at approximately $12,386,803.50. This represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 16,089 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.60, for a total transaction of $1,200,239.40. Following the sale, the chief executive officer directly owned 2,185,039 shares of the company's stock, valued at $163,003,909.40. The trade was a 0.73% decrease in their position. 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. 3.10% of the stock is owned by insiders.

nLight Price Performance

Shares of nLight stock opened at $58.68 on Thursday. The business has a 50-day moving average of $70.07 and a 200-day moving average of $60.23. The company has a market capitalization of $3.31 billion, a PE ratio of -195.59 and a beta of 2.30. nLight has a 1-year low of $17.84 and a 1-year high of $86.95.

nLight (NASDAQ:LASR - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.12. The business had revenue of $80.18 million for the quarter, compared to analyst estimates of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The company's revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, equities analysts expect that nLight will post -0.17 earnings per share for the current fiscal year.

nLight Profile

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.

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