Segall Bryant & Hamill LLC Buys 705,215 Shares of nLight (NASDAQ:LASR)

Segall Bryant & Hamill LLC increased its holdings in shares of nLight (NASDAQ:LASR - Free Report) by 140.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,207,580 shares of the company's stock after purchasing an additional 705,215 shares during the period. Segall Bryant & Hamill LLC owned approximately 2.46% of nLight worth $9,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in nLight by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock valued at $277,000 after buying an additional 1,140 shares during the period. XTX Topco Ltd boosted its position in nLight by 7.2% during the fourth quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock worth $257,000 after acquiring an additional 1,641 shares during the last quarter. Swiss National Bank boosted its position in nLight by 1.9% during the fourth quarter. Swiss National Bank now owns 90,000 shares of the company's stock worth $944,000 after acquiring an additional 1,700 shares during the last quarter. Quantbot Technologies LP boosted its position in nLight by 17.6% during the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock worth $124,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Sei Investments Co. raised its stake in nLight by 4.3% during the fourth quarter. Sei Investments Co. now owns 44,691 shares of the company's stock worth $469,000 after purchasing an additional 1,861 shares during the period. Hedge funds and other institutional investors own 83.88% of the company's stock.

Insider Activity

In other nLight news, CEO Scott H. Keeney sold 75,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total transaction of $1,149,750.00. Following the completion of the sale, the chief executive officer directly owned 1,342,927 shares of the company's stock, valued at approximately $20,587,070.91. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph John Corso sold 10,062 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $17.62, for a total transaction of $177,292.44. Following the completion of the transaction, the chief financial officer owned 166,362 shares in the company, valued at approximately $2,931,298.44. This represents a 5.70% 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 valued at $3,445,301. Insiders own 6.10% of the company's stock.

nLight Stock Down 2.1%

LASR traded down $0.42 on Monday, hitting $19.54. 615,825 shares of the company were exchanged, compared to its average volume of 451,314. The company has a current ratio of 5.81, a quick ratio of 4.63 and a debt-to-equity ratio of 0.09. The business's fifty day moving average is $17.10 and its 200 day moving average is $12.01. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $20.42.

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 analysts' consensus estimates 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 business had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The company's revenue was up 16.2% on a year-over-year basis. Equities analysts forecast that nLight will post -1.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LASR. Craig Hallum reiterated a "buy" rating and set a $24.00 target price (up from $14.00) on shares of nLight in a report on Thursday, June 26th. Needham & Company LLC increased their target price on shares of nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nLight presently has a consensus rating of "Buy" and an average target price of $17.70.

nLight Company 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.