Stephens Investment Management Group LLC lessened its stake in shares of nLight (NASDAQ:LASR - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 909,929 shares of the company's stock after selling 36,920 shares during the period. Stephens Investment Management Group LLC owned about 1.86% of nLight worth $7,070,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of LASR. Senvest Management LLC raised its holdings in nLight by 114.1% during the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock worth $26,033,000 after acquiring an additional 1,322,637 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in nLight in the fourth quarter valued at approximately $5,270,000. Needham Investment Management LLC raised its stake in 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 buying an additional 314,375 shares during the period. Polar Capital Holdings Plc bought a new stake in nLight in the fourth quarter valued at approximately $2,259,000. Finally, Raymond James Financial Inc. bought a new stake in nLight in the fourth quarter valued at approximately $1,976,000. Institutional investors own 83.88% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on LASR shares. Craig Hallum restated a "buy" rating and issued a $24.00 price objective (up previously from $14.00) on shares of nLight in a research note on Thursday, June 26th. Needham & Company LLC upped their price objective on nLight from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $17.70.
Check Out Our Latest Analysis on LASR
Insiders Place Their Bets
In other nLight news, CFO Joseph John Corso sold 10,062 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $17.62, for a total transaction of $177,292.44. Following the transaction, the chief financial officer owned 166,362 shares in the company, valued at $2,931,298.44. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Keeney sold 75,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total value of $1,149,750.00. Following the completion of the sale, the chief executive officer directly owned 1,342,927 shares in the company, valued at approximately $20,587,070.91. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,915 shares of company stock worth $3,445,301. Corporate insiders own 4.70% of the company's stock.
nLight Stock Performance
Shares of NASDAQ LASR traded down $0.29 during trading hours on Thursday, reaching $19.16. 369,140 shares of the stock were exchanged, compared to its average volume of 448,712. The firm has a market capitalization of $947.27 million, a price-to-earnings ratio of -16.96 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81. nLight has a 52 week low of $6.20 and a 52 week high of $20.17. The stock's fifty day simple moving average is $16.93 and its 200 day simple moving average is $11.92.
nLight (NASDAQ:LASR - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The company had revenue of $51.67 million for the quarter, compared to analyst estimates of $47.77 million. During the same quarter last year, the company earned ($0.17) earnings per share. The firm's quarterly revenue was up 16.2% compared to the same quarter last year. Sell-side analysts predict that nLight will post -1.1 EPS for the current year.
About nLight
(
Free Report)
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.
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