Algert Global LLC Raises Stake in nLIGHT, Inc. (NASDAQ:LASR)

Algert Global LLC increased its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 268.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,250 shares of the company’s stock after acquiring an additional 156,043 shares during the period. Algert Global LLC’s holdings in nLIGHT were worth $2,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stifel Financial Corp boosted its position in shares of nLIGHT by 11.1% in the 4th quarter. Stifel Financial Corp now owns 159,648 shares of the company’s stock worth $1,675,000 after purchasing an additional 15,904 shares in the last quarter. Raymond James Financial Inc. purchased a new position in nLIGHT during the fourth quarter valued at $1,976,000. Stephens Investment Management Group LLC boosted its holdings in nLIGHT by 20.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company’s stock worth $9,932,000 after acquiring an additional 162,903 shares in the last quarter. Barclays PLC grew its stake in shares of nLIGHT by 317.7% in the third quarter. Barclays PLC now owns 70,599 shares of the company’s stock worth $755,000 after acquiring an additional 53,699 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of nLIGHT by 145.0% during the fourth quarter. Franklin Resources Inc. now owns 64,295 shares of the company’s stock valued at $674,000 after acquiring an additional 38,050 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LASR. Needham & Company LLC cut their price objective on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price target on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

Insider Activity

In related news, CEO Scott H. Keeney sold 53,511 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the sale, the chief executive officer now owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.

nLIGHT Stock Performance

NASDAQ LASR opened at $8.61 on Friday. The company has a market capitalization of $425.67 million, a price-to-earnings ratio of -8.36 and a beta of 2.02. The stock has a 50-day moving average of $8.00 and a 200 day moving average of $9.93. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). The company had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. On average, equities analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

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.