Tema ETFs LLC Acquires 393,723 Shares of nLight $LASR

Tema ETFs LLC boosted its holdings in shares of nLight (NASDAQ:LASR) by 84,128.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,191 shares of the company’s stock after buying an additional 393,723 shares during the quarter. Tema ETFs LLC owned approximately 0.70% of nLight worth $27,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. increased its holdings in shares of nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after purchasing an additional 223 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of nLight by 0.7% during the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company’s stock worth $2,384,000 after buying an additional 281 shares during the last quarter. ProShare Advisors LLC raised its holdings in nLight by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 13,745 shares of the company’s stock valued at $516,000 after acquiring an additional 358 shares during the period. Price T Rowe Associates Inc. MD lifted its position in nLight by 1.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,574 shares of the company’s stock worth $997,000 after acquiring an additional 422 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in nLight by 8.0% during the fourth quarter. NewEdge Advisors LLC now owns 6,003 shares of the company’s stock worth $225,000 after acquiring an additional 443 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

nLight Stock Down 3.5%

Shares of nLight stock opened at $49.21 on Wednesday. nLight has a 12-month low of $24.87 and a 12-month high of $86.95. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -196.84 and a beta of 2.31. The firm’s 50-day moving average price is $66.76 and its two-hundred day moving average price is $64.88.

nLight (NASDAQ:LASR) last issued its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 3.19%. The company had revenue of $82.59 million during the quarter, compared to analysts’ expectations of $78.58 million. During the same period in the previous year, the company earned $0.06 EPS. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. On average, sell-side analysts expect that nLight will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other nLight news, CEO Scott H. Keeney sold 46,735 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 2,375,519 shares in the company, valued at $162,675,541.12. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, CFO Joseph John Corso sold 35,476 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 177,572 shares in the company, valued at approximately $12,501,068.80. This represents a 16.65% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 391,038 shares of company stock worth $28,367,419 over the last three months. 3.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LASR has been the topic of several research reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 target price on shares of nLight in a research report on Friday, May 8th. Needham & Company LLC lifted their price target on nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Stifel Nicolaus lifted their target price on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Craig Hallum boosted their target price on shares of nLight from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, UBS Group set a $90.00 price target on shares of nLight in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.94.

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.