Laurel Oak Wealth Management LLC Invests $2.14 Million in nLight $LASR

Laurel Oak Wealth Management LLC acquired a new position in shares of nLight (NASDAQ:LASR) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 37,500 shares of the company’s stock, valued at approximately $2,138,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LASR. Osaic Holdings Inc. boosted its stake in nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after purchasing an additional 647 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of nLight during the fourth quarter worth $41,000. Finally, Wexford Capital LP purchased a new stake in shares of nLight during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Trading Down 1.7%

Shares of nLight stock opened at $61.37 on Friday. The firm’s 50 day simple moving average is $71.36 and its two-hundred day simple moving average is $58.54. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -204.56 and a beta of 2.31. nLight has a 12-month low of $17.84 and a 12-month high of $86.95.

nLight (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.08 by $0.12. The business had revenue of $80.18 million during the quarter, compared to the consensus estimate of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The business’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. On average, sell-side analysts predict that nLight will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other nLight news, CEO Scott H. Keeney sold 46,735 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total transaction of $3,200,412.80. Following the sale, the chief executive officer owned 2,375,519 shares in the company, valued at approximately $162,675,541.12. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, CFO Joseph John Corso sold 35,476 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total value of $2,497,510.40. Following the sale, the chief financial officer owned 177,572 shares in the company, valued at approximately $12,501,068.80. The trade was a 16.65% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 391,038 shares of company stock valued at $28,367,419 in the last 90 days. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Roth Mkm reissued a “buy” rating and issued a $81.00 price objective on shares of nLight in a research report on Friday, April 24th. Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price target on nLight from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Robert W. Baird began coverage on nLight in a report on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 price target for the company. Finally, Stifel Nicolaus raised 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 assigned a Sell rating to the stock. Based on data from MarketBeat, nLight currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

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.