Algert Global LLC Has $24.59 Million Holdings in nLight $LASR

Algert Global LLC increased its stake in shares of nLight (NASDAQ:LASR - Free Report) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,201 shares of the company's stock after acquiring an additional 31,540 shares during the period. Algert Global LLC owned about 0.61% of nLight worth $24,590,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cibc World Market Inc. bought a new position in shares of nLight during the 2nd quarter worth approximately $218,000. Sanctuary Advisors LLC bought a new position in nLight in the second quarter valued at $217,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in nLight in the 2nd quarter valued at $27,061,000. Elevation Point Wealth Partners LLC acquired a new stake in nLight in the 2nd quarter valued at $344,000. Finally, Ieq Capital LLC bought a new stake in nLight during the 2nd quarter worth about $2,414,000. 83.88% of the stock is owned by institutional investors.

nLight Stock Down 6.9%

Shares of LASR opened at $44.11 on Tuesday. nLight has a 12-month low of $27.22 and a 12-month high of $86.95. The business has a 50-day simple moving average of $63.30 and a two-hundred day simple moving average of $65.08. The stock has a market cap of $2.54 billion, a PE ratio of -176.44 and a beta of 2.31.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The company had revenue of $82.59 million during the quarter, compared to analysts' expectations of $78.58 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business's quarterly revenue was up 33.8% on a year-over-year basis. On average, equities research analysts expect that nLight will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of analyst reports. Craig Hallum increased 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. Needham & Company LLC boosted their price target on nLight from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of nLight from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Zacks Research cut shares of nLight from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, UBS Group set a $90.00 price target on shares of nLight in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.94.

Insider Buying and Selling

In other nLight news, CFO Joseph John Corso sold 3,817 shares of the firm's stock in a transaction 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 transaction, the chief financial officer directly owned 169,915 shares in the company, valued at approximately $12,386,803.50. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.60, for a total value of $1,200,239.40. Following the completion of the transaction, the chief executive officer directly owned 2,185,039 shares of the company's stock, valued at approximately $163,003,909.40. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 116,331 shares of company stock worth $8,834,029 in the last quarter. Insiders own 3.10% of the company's stock.

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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