nLight $LASR Stock Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lessened its stake in shares of nLight (NASDAQ:LASR) by 72.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,061 shares of the company’s stock after selling 244,974 shares during the period. Zevenbergen Capital Investments LLC’s holdings in nLight were worth $3,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Amundi acquired a new position in nLight in the 1st quarter valued at about $1,023,000. Rice Hall James & Associates LLC purchased a new position in nLight in the second quarter worth approximately $3,740,000. Bank of America Corp DE purchased a new position in nLight in the second quarter worth approximately $8,938,000. Lazard Asset Management LLC acquired a new stake in nLight during the first quarter worth $1,847,000. Finally, Lisanti Capital Growth LLC acquired a new stake in nLight during the second quarter worth $4,673,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Trading Down 3.9%

LASR traded down $1.57 during mid-day trading on Thursday, hitting $38.31. 1,181,627 shares of the stock were exchanged, compared to its average volume of 1,382,247. The firm’s fifty day moving average is $46.60 and its two-hundred day moving average is $60.93. nLight has a 1-year low of $28.05 and a 1-year high of $86.95. The company has a market cap of $2.21 billion, a PE ratio of -153.24 and a beta of 2.37.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Craig Hallum upped 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. UBS Group set a $90.00 target price on shares of nLight in a research note on Friday, July 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.50.

Insider Buying and Selling

In other nLight news, Director William Gossman sold 15,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $44.36, for a total value of $665,400.00. Following the completion of the transaction, the director owned 100,251 shares in the company, valued at $4,447,134.36. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO James Nias sold 1,025 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $40.69, for a total value of $41,707.25. Following the sale, the chief accounting officer directly owned 96,596 shares in the company, valued at $3,930,491.24. This represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 616,697 shares of company stock worth $26,999,794 over the last three months. 3.10% of the stock is owned by insiders.

About nLight

nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.

The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.

Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.