Tidal Investments LLC Acquires 393,488 Shares of nLight $LASR

Key Points

• Tidal Investments increased its nLight stake by 2,995.5% in the second quarter, acquiring 393,488 shares and bringing its holdings to 406,624 shares, worth approximately $28.3 million. Institutional investors collectively own 83.88% of LASR.
• nLight reported stronger-than-expected quarterly results, with earnings of $0.15 per share versus a $0.14 estimate and revenue of $82.59 million, up 33.8% year over year. However, the company remains unprofitable, with a negative net margin of 4.02%.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $87.94, despite recent insider selling and LASR shares opening at $40.99—well below their 50-day and 200-day moving averages.

Tidal Investments LLC boosted its stake in shares of nLight (NASDAQ:LASR - Free Report) by 2,995.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 406,624 shares of the company's stock after acquiring an additional 393,488 shares during the quarter. Tidal Investments LLC owned about 0.70% of nLight worth $28,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LASR. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of nLight in the 1st quarter worth approximately $52,000. Sunbelt Securities Inc. lifted its position in nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 buying an additional 647 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in nLight by 7,871.4% during the fourth 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. Finally, Allworth Financial LP purchased a new position in nLight during the second quarter worth $81,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at nLight

In other news, Director William Gossman sold 15,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $44.36, for a total value of $665,400.00. Following the completion of the sale, the director owned 100,251 shares of the company's stock, valued at approximately $4,447,134.36. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph Corso sold 3,524 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $41.49, for a total value of $146,210.76. Following the sale, the chief financial officer directly owned 162,200 shares in the company, valued at $6,729,678. This trade represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 396,993 shares of company stock worth $17,965,402. 3.10% of the stock is owned by company insiders.

nLight Price Performance

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 company's 50-day simple moving average is $57.70 and its two-hundred day simple moving average is $64.24. nLight has a one year low of $27.22 and a one year high of $86.95.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC raised 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. Wall Street Zen downgraded shares of nLight from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Craig Hallum boosted their target price on nLight from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Zacks Research cut nLight from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus increased their price target on nLight from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.94.

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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