King Luther Capital Management Corp Sells 17,000 Shares of nLight $LASR

Key Points

• King Luther Capital Management cut its nLight stake by 65.4% in the fourth quarter, selling 17,000 shares and leaving it with 9,000 shares worth about $338,000.
• nLight has drawn mostly bullish analyst attention, with an average rating of “Moderate Buy” and a consensus price target of $69.06, though Weiss Ratings still has a sell rating on the stock.
• The company recently reported stronger-than-expected quarterly results, posting $0.20 EPS versus the $0.08 estimate and revenue of $80.18 million, up 55.2% year over year.

King Luther Capital Management Corp reduced its stake in shares of nLight (NASDAQ:LASR - Free Report) by 65.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,000 shares of the company's stock after selling 17,000 shares during the period. King Luther Capital Management Corp's holdings in nLight were worth $338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. grew its position in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock valued at $36,000 after acquiring an additional 1,727 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after acquiring an additional 647 shares during the period. Financial Consulate Inc. bought a new position in shares of nLight during the 4th quarter valued at approximately $41,000. Wexford Capital LP bought a new position in shares of nLight during the 3rd quarter valued at approximately $41,000. Finally, SBI Securities Co. Ltd. grew its position in shares of nLight by 22.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company's stock valued at $46,000 after acquiring an additional 223 shares during the period. 83.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on LASR. Wall Street Zen raised shares of nLight from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 price objective on shares of nLight in a report on Friday, May 8th. Cantor Fitzgerald raised their price objective on shares of nLight from $40.00 to $62.50 and gave the stock an "overweight" rating in a report on Friday, February 27th. Roth Mkm reaffirmed a "buy" rating and issued a $81.00 price objective on shares of nLight in a report on Friday, April 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of nLight in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.06.

Insider Activity

In other news, CEO Scott H. Keeney sold 41,373 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total transaction of $2,912,659.20. Following the sale, the chief executive officer owned 2,334,146 shares in the company, valued at approximately $164,323,878.40. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 415 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $71.09, for a total transaction of $29,502.35. Following the sale, the chief accounting officer owned 98,561 shares in the company, valued at approximately $7,006,701.49. This trade represents a 0.42% decrease in their position. 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. In the last quarter, insiders have sold 405,487 shares of company stock worth $27,566,119. 3.10% of the stock is currently owned by corporate insiders.

nLight Price Performance

Shares of NASDAQ:LASR opened at $74.12 on Friday. The firm has a fifty day moving average price of $69.94 and a two-hundred day moving average price of $53.71. nLight has a one year low of $14.91 and a one year high of $86.95. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -247.06 and a beta of 2.34.

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

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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