The Manufacturers Life Insurance Company acquired a new stake in shares of nLight (NASDAQ:LASR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,433 shares of the company's stock, valued at approximately $1,980,000.
A number of other large investors have also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of nLight during the 1st quarter valued at about $52,000. Sunbelt Securities Inc. lifted its holdings in shares of nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 647 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in nLight by 7,871.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock worth $42,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in nLight during the second quarter worth approximately $81,000. 83.88% of the stock is currently owned by institutional investors.
Insider Buying and Selling at nLight
In other news, CEO Scott H. Keeney sold 181,750 shares of nLight stock in a transaction on Friday, August 21st. The stock was sold at an average price of $46.88, for a total transaction of $8,520,440.00. Following the completion of the sale, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $102,434,628.32. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 on Friday, August 28th. The shares were sold at an average price of $44.36, for a total transaction of $665,400.00. Following the sale, the director directly owned 100,251 shares of the company's stock, valued at $4,447,134.36. This represents a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 378,500 shares of company stock worth $17,210,102 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have issued reports on LASR. Raymond James Financial restated a "strong-buy" rating and set a $100.00 price objective on shares of nLight in a research report on Friday, May 8th. Wall Street Zen downgraded nLight from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. UBS Group set a $90.00 price target on nLight in a report on Friday, July 10th. Zacks Research downgraded nLight from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Stifel Nicolaus increased their target price on shares of nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.94.
Get Our Latest Analysis on LASR
nLight Price Performance
Shares of NASDAQ:LASR opened at $39.39 on Thursday. nLight has a 1 year low of $27.22 and a 1 year high of $86.95. The business has a 50 day simple moving average of $60.13 and a two-hundred day simple moving average of $64.67. The firm has a market capitalization of $2.27 billion, a PE ratio of -157.56 and a beta of 2.30.
nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share 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 firm had revenue of $82.59 million for the quarter, compared to the consensus estimate of $78.58 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company's revenue for the quarter was up 33.8% on a year-over-year basis. Equities research analysts expect that nLight will post -0.19 EPS for the current fiscal 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. 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.
Featured Articles
Want to see what other hedge funds are holding LASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nLight (NASDAQ:LASR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider nLight, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and nLight wasn't on the list.
While nLight currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries. "Physical AI" is coming. Learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
