Bank of America Corp DE Boosts Holdings in nLight $LASR

Bank of America Corp DE raised its position in nLight (NASDAQ:LASR - Free Report) by 32.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,398 shares of the company's stock after buying an additional 58,272 shares during the quarter. Bank of America Corp DE owned approximately 0.42% of nLight worth $13,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of nLight during the first quarter worth about $52,000. Sunbelt Securities Inc. lifted 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 boosted its holdings in nLight by 155.9% in the 4th 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. Caitong International Asset Management Co. Ltd boosted its holdings in nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock valued at $42,000 after purchasing an additional 1,102 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in nLight by 22.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company's stock worth $46,000 after purchasing an additional 223 shares during the period. 83.88% of the stock is owned by institutional investors and hedge funds.

nLight Trading Up 0.4%

NASDAQ:LASR opened at $47.39 on Friday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -189.56 and a beta of 2.31. The firm's fifty day simple moving average is $63.82 and its 200 day simple moving average is $65.01. nLight has a twelve month low of $26.88 and a twelve month high of $86.95.

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

Insider Buying and Selling at nLight

In other nLight news, CEO Scott H. Keeney sold 41,373 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $78.64, for a total transaction of $3,253,572.72. Following the completion of the transaction, the chief executive officer directly owned 2,251,400 shares of the company's stock, valued at $177,050,096. This trade represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph John Corso sold 3,840 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total value of $299,481.60. Following the completion of the sale, the chief financial officer directly owned 173,732 shares of the company's stock, valued at approximately $13,549,358.68. This represents a 2.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 ninety days. 3.10% of the stock is owned by insiders.

Analyst Ratings Changes

LASR has been the subject of a number of analyst reports. Stifel Nicolaus increased their target price on nLight from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of nLight from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Roth Capital restated a "buy" rating and issued a $81.00 price target on shares of nLight in a report on Friday, April 24th. Needham & Company LLC upped their price objective on shares of nLight from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Finally, Zacks Research lowered shares of nLight from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. One investment 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.94.

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.

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