Ieq Capital LLC Buys Shares of 34,669 nLight $LASR

Ieq Capital LLC purchased a new position in nLight (NASDAQ:LASR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,669 shares of the company’s stock, valued at approximately $2,414,000. Ieq Capital LLC owned about 0.06% of nLight at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. grew 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 purchasing an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. increased its position in nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake 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 worth $40,000 after purchasing an additional 647 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of nLight during the 3rd quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of nLight by 7,871.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LASR has been the subject of several recent research reports. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. UBS Group set a $90.00 target price on shares of nLight in a research report on Friday, July 10th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. Finally, Craig Hallum raised their price target on shares of nLight from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.94.

Insider Activity

In related news, CFO Joseph John Corso sold 3,840 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total value of $299,481.60. Following the transaction, the chief financial officer directly owned 173,732 shares in the company, valued at approximately $13,549,358.68. This trade represents a 2.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, CEO Scott H. Keeney sold 181,750 shares of nLight stock in a transaction on Friday, August 21st. The stock was sold at an average price of $46.88, for a total transaction of $8,520,440.00. Following the completion of the transaction, the chief executive officer owned 2,185,039 shares in the company, valued at $102,434,628.32. This trade represents a 7.68% 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. Insiders have sold a total of 479,831 shares of company stock valued at $25,378,732 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

nLight Stock Performance

Shares of NASDAQ LASR opened at $43.30 on Wednesday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -173.20 and a beta of 2.31. The business’s 50-day simple moving average is $62.85 and its 200-day simple moving average is $65.08. nLight has a 52 week low of $27.22 and a 52 week high of $86.95.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The business had revenue of $82.59 million for the quarter, compared to the consensus estimate of $78.58 million. During the same period last year, the business earned $0.06 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. As a group, equities research analysts forecast that nLight will post -0.19 earnings per share for the current year.

nLight Company 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.