GSA Capital Partners LLP Has $1.78 Million Stock Holdings in nLight (NASDAQ:LASR)

Key Points

• GSA Capital Partners LLP purchased an additional 191,954 shares of nLight, increasing its position by 515.8% to a total of 229,168 shares. This investment values the shares at approximately $1.78 million.
• Wall Street analysts are optimistic about nLight, with recommendations including a price target increase from $14.00 to $18.00 by Needham & Company and a target set at $24.00 by Craig Hallum.
• Insider transactions showed CEO Scott H. Keeney sold 33,682 shares for over $657,000, reflecting a 2.72% decrease in his ownership, while CFO Joseph John Corso also sold shares, indicating notable insider activity.

GSA Capital Partners LLP increased its position in nLight (NASDAQ:LASR - Free Report) by 515.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 229,168 shares of the company's stock after purchasing an additional 191,954 shares during the period. GSA Capital Partners LLP owned about 0.46% of nLight worth $1,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in nLight by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock worth $277,000 after purchasing an additional 1,140 shares during the period. XTX Topco Ltd grew its position in nLight by 7.2% during the fourth quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock valued at $257,000 after purchasing an additional 1,641 shares in the last quarter. Quantbot Technologies LP grew its position in nLight by 17.6% during the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after purchasing an additional 1,772 shares in the last quarter. Sei Investments Co. grew its position in nLight by 4.3% during the fourth quarter. Sei Investments Co. now owns 44,691 shares of the company's stock valued at $469,000 after purchasing an additional 1,861 shares in the last quarter. Finally, Invesco Ltd. grew its position in nLight by 3.9% during the fourth quarter. Invesco Ltd. now owns 51,728 shares of the company's stock valued at $543,000 after purchasing an additional 1,936 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

nLight Stock Performance

Shares of LASR stock traded down $0.93 during trading on Friday, reaching $20.08. The company had a trading volume of 755,350 shares, compared to its average volume of 566,874. nLight has a one year low of $6.20 and a one year high of $21.60. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.81 and a quick ratio of 4.63. The company has a market capitalization of $992.76 million, a PE ratio of -17.77 and a beta of 2.33. The firm's 50 day simple moving average is $18.31 and its two-hundred day simple moving average is $12.54.

nLight (NASDAQ:LASR - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.13. nLight had a negative net margin of 26.80% and a negative return on equity of 22.23%. The business had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. During the same quarter last year, the company earned ($0.17) earnings per share. The firm's revenue was up 16.2% on a year-over-year basis. Sell-side analysts forecast that nLight will post -1.1 earnings per share for the current year.

Insider Activity

In other news, CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $17.62, for a total transaction of $177,292.44. Following the sale, the chief financial officer directly owned 166,362 shares in the company, valued at approximately $2,931,298.44. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 33,682 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $19.53, for a total transaction of $657,809.46. Following the completion of the sale, the chief executive officer directly owned 1,206,540 shares in the company, valued at approximately $23,563,726.20. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,915 shares of company stock valued at $3,445,301. 4.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LASR. Needham & Company LLC increased their price objective on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Craig Hallum restated a "buy" rating and issued a $24.00 price objective (up previously from $14.00) on shares of nLight in a report on Thursday, June 26th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $17.70.

nLight Company 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.