Emerald Advisers LLC Cuts Stock Position in nLight $LASR

Emerald Advisers LLC cut its holdings in shares of nLight (NASDAQ:LASR - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 746,674 shares of the company's stock after selling 35,203 shares during the quarter. nLight makes up about 1.3% of Emerald Advisers LLC's investment portfolio, making the stock its 16th biggest position. Emerald Advisers LLC owned about 1.32% of nLight worth $42,575,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LASR. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of nLight during the first quarter worth about $52,000. Sunbelt Securities Inc. boosted its stake in nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC boosted its stake in nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after purchasing an additional 647 shares during the period. Financial Consulate Inc. purchased a new stake in nLight during the 4th quarter valued at approximately $41,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in nLight by 7,871.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock valued at $42,000 after buying an additional 1,102 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLight Price Performance

NASDAQ:LASR opened at $69.04 on Tuesday. nLight has a 1 year low of $17.84 and a 1 year high of $86.95. The stock's 50 day simple moving average is $70.38 and its two-hundred day simple moving average is $60.94. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -230.13 and a beta of 2.30.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $80.18 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. As a group, analysts anticipate that nLight will post -0.17 EPS for the current year.

Insider Activity at nLight

In other news, CFO Joseph John Corso sold 3,817 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $72.90, for a total value of $278,259.30. Following the sale, the chief financial officer directly owned 169,915 shares in the company, valued at $12,386,803.50. The trade was a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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, CAO James Nias sold 940 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total transaction of $73,310.60. Following the sale, the chief accounting officer owned 97,621 shares in the company, valued at $7,613,461.79. This represents a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 391,038 shares of company stock valued at $28,367,419 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LASR. Stifel Nicolaus lifted their price objective on shares of nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Zacks Research upgraded shares of nLight from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Roth Capital reaffirmed a "buy" rating and set a $81.00 target price on shares of nLight in a research note on Friday, April 24th. Needham & Company LLC lifted their price target on shares of nLight from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday. Finally, William Blair initiated coverage on shares of nLight in a research note on Friday, March 27th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $80.94.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.