Walleye Capital LLC Makes New Investment in nLIGHT, Inc. (NASDAQ:LASR)

Walleye Capital LLC acquired a new stake in shares of nLIGHT, Inc. (NASDAQ:LASRGet Rating) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 38,608 shares of the company’s stock, valued at approximately $395,000. Walleye Capital LLC owned about 0.09% of nLIGHT as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of nLIGHT by 890.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 99,423 shares of the company’s stock valued at $1,016,000 after buying an additional 89,381 shares during the last quarter. Royce & Associates LP raised its stake in shares of nLIGHT by 49.0% during the 1st quarter. Royce & Associates LP now owns 1,489,631 shares of the company’s stock valued at $25,830,000 after buying an additional 489,834 shares during the last quarter. Jennison Associates LLC raised its stake in shares of nLIGHT by 2.9% during the 1st quarter. Jennison Associates LLC now owns 959,866 shares of the company’s stock valued at $16,644,000 after buying an additional 26,724 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of nLIGHT by 6.2% during the 2nd quarter. Pinnacle Associates Ltd. now owns 1,424,103 shares of the company’s stock valued at $14,554,000 after buying an additional 83,767 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of nLIGHT during the 2nd quarter valued at about $126,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

nLIGHT Stock Down 3.7 %

Shares of nLIGHT stock opened at $10.74 on Thursday. nLIGHT, Inc. has a twelve month low of $8.22 and a twelve month high of $27.75. The business has a 50-day moving average price of $10.37 and a 200 day moving average price of $11.34. The firm has a market cap of $486.60 million, a PE ratio of -11.67 and a beta of 2.29.

nLIGHT (NASDAQ:LASRGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.05). nLIGHT had a negative return on equity of 13.16% and a negative net margin of 16.09%. The firm had revenue of $60.09 million for the quarter, compared to analysts’ expectations of $65.04 million. On average, sell-side analysts expect that nLIGHT, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus began coverage on nLIGHT in a research note on Friday, November 4th. They set a “buy” rating for the company. Raymond James cut their price target on nLIGHT from $40.00 to $30.00 in a research note on Sunday, November 6th. DA Davidson cut their price target on nLIGHT to $23.00 in a research note on Tuesday, August 9th. Finally, Needham & Company LLC cut their price target on nLIGHT from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 4th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.75.

nLIGHT Company Profile

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nLIGHT, Inc designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications.

See Also

Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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