GAMMA Investing LLC Grows Position in nLight (NASDAQ:LASR)

GAMMA Investing LLC lifted its holdings in shares of nLight (NASDAQ:LASR) by 6,563.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,864 shares of the company’s stock after buying an additional 4,791 shares during the period. GAMMA Investing LLC’s holdings in nLight were worth $38,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Moody National Bank Trust Division lifted its holdings in nLight by 345.1% in the first quarter. Moody National Bank Trust Division now owns 48,757 shares of the company’s stock valued at $379,000 after acquiring an additional 37,803 shares during the period. AWM Investment Company Inc. lifted its holdings in nLight by 9.7% in the fourth quarter. AWM Investment Company Inc. now owns 1,018,993 shares of the company’s stock valued at $10,689,000 after acquiring an additional 90,040 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in nLight by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,990 shares of the company’s stock valued at $871,000 after acquiring an additional 5,958 shares during the period. Two Sigma Investments LP lifted its holdings in nLight by 39.9% in the fourth quarter. Two Sigma Investments LP now owns 123,559 shares of the company’s stock valued at $1,296,000 after acquiring an additional 35,260 shares during the period. Finally, Polar Capital Holdings Plc bought a new position in nLight in the fourth quarter valued at about $2,259,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on LASR shares. Craig Hallum reissued a “buy” rating and issued a $24.00 target price (up previously from $14.00) on shares of nLight in a report on Thursday. Needham & Company LLC increased their target price on nLight from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, nLight currently has an average rating of “Buy” and a consensus price target of $17.70.

nLight Stock Up 7.1%

NASDAQ LASR opened at $19.59 on Friday. The stock’s 50-day moving average price is $13.54 and its 200-day moving average price is $11.03. The company has a quick ratio of 4.63, a current ratio of 5.81 and a debt-to-equity ratio of 0.09. nLight has a 52 week low of $6.20 and a 52 week high of $19.95. The company has a market capitalization of $968.53 million, a P/E ratio of -17.34 and a beta of 2.27.

nLight (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.13. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The firm had revenue of $51.67 million for the quarter, compared to the consensus estimate of $47.77 million. During the same quarter last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities research analysts predict that nLight will post -1.1 earnings per share for the current year.

Insider Transactions at nLight

In related news, CFO Joseph John Corso sold 10,062 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $17.62, for a total transaction of $177,292.44. Following the completion of the sale, the chief financial officer now owns 166,362 shares in the company, valued at approximately $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott H. Keeney sold 75,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $15.33, for a total value of $1,149,750.00. Following the sale, the chief executive officer now owns 1,342,927 shares of the company’s stock, valued at $20,587,070.91. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,233 shares of company stock valued at $2,787,492 over the last quarter. 4.70% of the stock is currently owned by company insiders.

nLight Company 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.