Legal & General Group Plc Acquires Shares of 49,142 nLight $LASR

Key Points

• Legal & General Group Plc acquired 49,142 nLight shares worth approximately $3.42 million, giving it a 0.09% stake. Institutional investors collectively own 83.88% of the company.
• nLight reported quarterly revenue of $82.59 million, up 33.8% year over year, and adjusted earnings of $0.15 per share, exceeding analysts’ expectations. Despite the stronger results, the company remains unprofitable on a net-margin basis.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $87.94, while company insiders sold 378,500 shares worth about $17.2 million over the past 90 days.

Legal & General Group Plc purchased a new stake in shares of nLight (NASDAQ:LASR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 49,142 shares of the company's stock, valued at approximately $3,420,000. Legal & General Group Plc owned approximately 0.09% of nLight at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after purchasing an additional 1,727 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of 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 lifted its stake in shares of nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after buying an additional 647 shares during the last quarter. Wexford Capital LP acquired a new stake in shares of nLight in the third quarter worth $41,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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 worth $42,000 after buying an additional 1,102 shares during the period. Hedge funds and other institutional investors own 83.88% of the company's stock.

nLight Stock Performance

Shares of NASDAQ LASR opened at $40.06 on Friday. The business has a fifty day moving average of $59.28 and a two-hundred day moving average of $64.42. nLight has a 52-week low of $27.22 and a 52-week high of $86.95. The stock has a market cap of $2.31 billion, a PE ratio of -160.24 and a beta of 2.30.

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

Analysts Set New Price Targets

Several research analysts recently commented on LASR shares. Needham & Company LLC lifted their target price on shares of nLight from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Zacks Research cut shares of nLight from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Stifel Nicolaus raised their price target on nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 price objective on shares of nLight in a research report on Friday, May 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of nLight in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, nLight currently has an average rating of "Moderate Buy" and a consensus price target of $87.94.

Insider Activity at nLight

In other news, CEO Scott Keeney sold 181,750 shares of nLight stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $44.15, for a total value of $8,024,262.50. Following the completion of the transaction, the chief executive officer owned 2,185,039 shares in the company, valued at approximately $96,469,471.85. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Gossman sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $44.36, for a total value of $665,400.00. Following the completion of the transaction, the director directly owned 100,251 shares in the company, valued at $4,447,134.36. The trade was a 13.02% 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. In the last ninety days, insiders have sold 378,500 shares of company stock valued at $17,210,102. Company insiders own 3.10% of the company's stock.

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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