Kornitzer Capital Management Inc. KS Has $155,000 Stock Position in nLight (NASDAQ:LASR)

Kornitzer Capital Management Inc. KS reduced its stake in shares of nLight (NASDAQ:LASR - Free Report) by 53.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the company's stock after selling 22,800 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in nLight were worth $155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Needham Investment Management LLC boosted its holdings in shares of nLight by 13.4% in the fourth quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock valued at $27,821,000 after acquiring an additional 314,375 shares in the last quarter. Senvest Management LLC boosted its holdings in shares of nLight by 114.1% in the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock valued at $26,033,000 after acquiring an additional 1,322,637 shares in the last quarter. AWM Investment Company Inc. boosted its holdings in shares of nLight by 9.7% in the fourth quarter. AWM Investment Company Inc. now owns 1,018,993 shares of the company's stock valued at $10,689,000 after acquiring an additional 90,040 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of nLight in the fourth quarter valued at about $5,270,000. Finally, Northern Trust Corp grew its position in nLight by 10.9% during the fourth quarter. Northern Trust Corp now owns 478,646 shares of the company's stock worth $5,021,000 after buying an additional 46,881 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

nLight Price Performance

nLight stock traded up $0.80 during trading hours on Friday, hitting $19.96. 444,018 shares of the company traded hands, compared to its average volume of 450,653. The firm has a market cap of $986.82 million, a P/E ratio of -17.66 and a beta of 2.33. The company has a quick ratio of 4.63, a current ratio of 5.81 and a debt-to-equity ratio of 0.09. The firm's 50-day simple moving average is $17.10 and its two-hundred day simple moving average is $12.01. nLight has a 1-year low of $6.20 and a 1-year high of $20.17.

nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter last year, the firm posted ($0.17) EPS. The business's revenue for the quarter was up 16.2% on a year-over-year basis. As a group, analysts forecast that nLight will post -1.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of nLight from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Craig Hallum reaffirmed a "buy" rating and set a $24.00 price target (up previously from $14.00) on shares of nLight in a research report on Thursday, June 26th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $17.70.

Insider Buying and Selling at nLight

In other news, 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 value of $657,809.46. Following the completion of the sale, the chief executive officer directly owned 1,206,540 shares of the company's stock, valued at $23,563,726.20. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph John Corso sold 10,062 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $17.62, for a total value of $177,292.44. Following the completion of the sale, the chief financial officer directly owned 166,362 shares of the company's stock, valued at approximately $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,915 shares of company stock worth $3,445,301 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

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.