15,800 Shares in nLight $LASR Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB purchased a new position in shares of nLight (NASDAQ:LASR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,800 shares of the company’s stock, valued at approximately $1,100,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in shares of nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after buying an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of nLight by 7,142.9% during 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after acquiring an additional 647 shares in the last quarter. Wexford Capital LP bought a new stake in nLight in the third quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd increased its stake 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 valued at $42,000 after acquiring an additional 1,102 shares during the period. Institutional investors own 83.88% of the company’s stock.

Analyst Ratings Changes

LASR has been the subject of several recent research reports. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. Stifel Nicolaus raised their target price on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, UBS Group set a $90.00 price target on nLight in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.94.

Insider Activity at nLight

In related news, CFO Joseph John Corso sold 3,817 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $72.90, for a total value of $278,259.30. Following the completion of the transaction, the chief financial officer owned 169,915 shares in the company, valued at $12,386,803.50. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, CAO James Nias sold 940 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total value of $73,310.60. Following the transaction, the chief accounting officer directly owned 97,621 shares in the company, valued at approximately $7,613,461.79. This represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 116,331 shares of company stock valued at $8,834,029 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

nLight Stock Down 7.4%

Shares of NASDAQ:LASR opened at $50.00 on Wednesday. The firm has a market cap of $2.88 billion, a P/E ratio of -200.00 and a beta of 2.31. nLight has a 12 month low of $24.87 and a 12 month high of $86.95. The company’s 50-day moving average price is $65.02 and its two-hundred day moving average price is $65.11.

nLight (NASDAQ:LASR) last announced its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The company had revenue of $82.59 million during the quarter, compared to the consensus estimate of $78.58 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 33.8% on a year-over-year basis. As a group, equities analysts predict that nLight will post -0.19 earnings per share for the current fiscal year.

nLight 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. 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.