nLight $LASR Shares Sold by BlueCrest Capital Management Ltd

Key Points

• BlueCrest Capital Management slashed its nLight stake by 97% in the second quarter, selling 247,224 shares and retaining 7,776 shares worth approximately $541,000. Institutional investors collectively own 83.88% of LASR.
• Insiders sold nearly 397,000 shares valued at about $18.0 million during the latest quarter. The reported sales included transactions by Chief Accounting Officer James Nias and Director William Gossman.
• Analysts maintain a generally positive outlook, with nLight carrying a “Moderate Buy” consensus rating and an average price target of $87.94. The company recently exceeded quarterly earnings and revenue estimates, reporting $82.59 million in revenue, up 33.8% year over year.

BlueCrest Capital Management Ltd lowered its stake in shares of nLight (NASDAQ:LASR - Free Report) by 97.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,776 shares of the company's stock after selling 247,224 shares during the quarter. BlueCrest Capital Management Ltd's holdings in nLight were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in nLight during the 1st quarter worth $52,000. Sunbelt Securities Inc. grew its holdings in shares of nLight by 7,142.9% during the fourth 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 last quarter. EverSource Wealth Advisors LLC increased its position in shares of nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after purchasing an additional 647 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock valued at $42,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of nLight in the 2nd quarter valued at about $81,000. Institutional investors and hedge funds own 83.88% of the company's stock.

Insider Activity

In other nLight news, CAO James Nias sold 1,025 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $41,707.25. Following the completion of the transaction, the chief accounting officer owned 96,596 shares in the company, valued at approximately $3,930,491.24. This represents a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Gossman sold 15,000 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $44.36, for a total transaction of $665,400.00. Following the completion of the sale, the director owned 100,251 shares of the company's stock, valued at $4,447,134.36. This trade represents a 13.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 396,993 shares of company stock valued at $17,965,402. 3.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LASR has been the topic of several research analyst reports. Zacks Research lowered nLight from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Craig Hallum lifted their target price on shares of nLight from $80.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Wall Street Zen downgraded shares of nLight from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. UBS Group set a $90.00 price objective on shares of nLight in a research report on Friday, July 10th. Finally, Needham & Company LLC lifted their price objective on shares of nLight from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, nLight currently has a consensus rating of "Moderate Buy" and an average target price of $87.94.

nLight Trading Down 1.3%

Shares of LASR stock opened at $40.99 on Thursday. The company has a market capitalization of $2.36 billion, a P/E ratio of -163.96 and a beta of 2.30. The business's 50 day moving average is $57.70 and its two-hundred day moving average is $64.24. nLight has a twelve month low of $27.22 and a twelve month high of $86.95.

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

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.

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