nLight $LASR Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its position in nLight (NASDAQ:LASR) by 161,736.7% in the 3rd quarter, Holdings Channel reports. The firm owned 79,300 shares of the company’s stock after buying an additional 79,251 shares during the period. Federated Hermes Inc.’s holdings in nLight were worth $2,350,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in LASR. Osaic Holdings Inc. increased its position in nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after buying an additional 1,727 shares during the period. Global Retirement Partners LLC purchased a new position in shares of nLight during the third quarter worth approximately $49,000. Nisa Investment Advisors LLC grew its position in shares of nLight by 162.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after acquiring an additional 1,700 shares during the last quarter. Militia Capital Partners LP acquired a new position in shares of nLight in the 2nd quarter valued at $71,000. Finally, Tower Research Capital LLC TRC raised its position in nLight by 213.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,764 shares of the company’s stock valued at $94,000 after purchasing an additional 3,246 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Analyst Upgrades and Downgrades

LASR has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Cantor Fitzgerald raised their price target on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group upgraded nLight to a “buy” rating in a research report on Wednesday, December 17th. Finally, Roth Mkm upped their price objective on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

nLight Stock Down 12.2%

LASR stock opened at $43.86 on Thursday. The stock has a market capitalization of $2.23 billion, a PE ratio of -49.84 and a beta of 2.33. The company has a fifty day moving average of $40.05 and a 200-day moving average of $32.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a one year low of $6.20 and a one year high of $50.78.

Insider Activity

In other nLight news, CAO James Nias sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the transaction, the chief accounting officer owned 99,512 shares in the company, valued at approximately $2,985,360. The trade was a 1.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $36.32, for a total value of $2,399,844.00. Following the transaction, the chief financial officer directly owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This trade represents a 25.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 141,262 shares of company stock valued at $5,101,910. Company insiders own 4.70% of the company’s stock.

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.