nLight $LASR Shares Sold by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd lessened its holdings in shares of nLight (NASDAQ:LASR) by 97.0% during the second quarter, HoldingsChannel reports. The fund owned 7,776 shares of the company’s stock after selling 247,224 shares during the period. BlueCrest Capital Management Ltd’s holdings in nLight were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new stake in nLight in the second quarter valued at $175,000. Arizona State Retirement System grew its stake in shares of nLight by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 14,625 shares of the company’s stock worth $1,018,000 after purchasing an additional 1,373 shares during the period. Nykredit A S acquired a new position in shares of nLight during the 2nd quarter worth $131,000. Corient Private Wealth LP purchased a new position in shares of nLight in the 2nd quarter valued at about $357,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of nLight in the 2nd quarter valued at about $223,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analyst Ratings Changes

LASR has been the topic of a number of research analyst reports. Craig Hallum boosted their price objective on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Stifel Nicolaus increased their target price on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group set a $90.00 price target on nLight in a research note on Friday, July 10th. Finally, Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.94.

nLight Stock Down 1.3%

NASDAQ:LASR opened at $40.99 on Thursday. The company has a market capitalization of $2.36 billion, a PE ratio of -163.96 and a beta of 2.30. nLight has a 52-week low of $27.22 and a 52-week high of $86.95. The stock has a fifty day simple moving average of $57.70 and a 200-day simple moving average of $64.24.

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

Insider Buying and Selling at nLight

In other news, CAO James Nias sold 1,025 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $41,707.25. Following the completion of the transaction, the chief accounting officer directly owned 96,596 shares of the company’s stock, valued at $3,930,491.24. This trade represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Gossman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $44.36, for a total transaction of $665,400.00. Following the transaction, the director directly owned 100,251 shares of the company’s stock, valued at approximately $4,447,134.36. This trade represents a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 396,993 shares of company stock worth $17,965,402. 3.10% of the stock is currently owned by insiders.

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.