Stephens Investment Management Group LLC lifted its holdings in Nlight Inc (NASDAQ:LASR) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 926,139 shares of the company’s stock after purchasing an additional 40,945 shares during the period. Stephens Investment Management Group LLC owned about 2.38% of Nlight worth $20,616,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in LASR. Wasatch Advisors Inc. boosted its holdings in shares of Nlight by 145.1% during the second quarter. Wasatch Advisors Inc. now owns 3,390,940 shares of the company’s stock worth $75,482,000 after purchasing an additional 2,007,277 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nlight by 25.3% during the second quarter. Vanguard Group Inc. now owns 3,288,823 shares of the company’s stock worth $73,208,000 after purchasing an additional 663,490 shares during the period. Penn Capital Management Co. Inc. boosted its holdings in shares of Nlight by 957.4% during the first quarter. Penn Capital Management Co. Inc. now owns 472,487 shares of the company’s stock worth $4,956,000 after purchasing an additional 427,803 shares during the period. Ranger Investment Management L.P. boosted its holdings in shares of Nlight by 43.5% during the first quarter. Ranger Investment Management L.P. now owns 1,124,966 shares of the company’s stock worth $11,801,000 after purchasing an additional 340,879 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Nlight during the first quarter worth approximately $3,396,000. Institutional investors own 81.72% of the company’s stock.
In related news, CFO Ran Bareket sold 12,500 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $24.21, for a total transaction of $302,625.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott H. Keeney sold 14,554 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $22.39, for a total transaction of $325,864.06. The disclosure for this sale can be found here. Insiders have sold 37,054 shares of company stock worth $866,189 in the last ninety days. 5.50% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on LASR shares. Stifel Nicolaus raised their price objective on shares of Nlight from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Benchmark reaffirmed a “hold” rating on shares of Nlight in a research report on Thursday, August 6th. BidaskClub lowered shares of Nlight from a “hold” rating to a “sell” rating in a research report on Wednesday, September 9th. Zacks Investment Research lowered shares of Nlight from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, ValuEngine lowered shares of Nlight from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $25.00.
Shares of NASDAQ:LASR traded up $0.35 during trading on Wednesday, reaching $22.56. The stock had a trading volume of 4,757 shares, compared to its average volume of 309,926. Nlight Inc has a 52 week low of $9.03 and a 52 week high of $26.48. The firm has a market capitalization of $863.39 million, a price-to-earnings ratio of -32.19 and a beta of 2.59. The company has a quick ratio of 4.16, a current ratio of 5.52 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $23.03 and a two-hundred day simple moving average of $19.41.
Nlight (NASDAQ:LASR) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.01). Nlight had a negative net margin of 14.17% and a negative return on equity of 9.17%. The firm had revenue of $52.14 million during the quarter, compared to the consensus estimate of $48.01 million. On average, analysts forecast that Nlight Inc will post -0.6 EPS for the current year.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It also produces optical fiber products. The company markets and sells its products to original equipment manufacturers primarily through direct sales force in the United States, China, South Korea, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.
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