nLight $LASR Holdings Raised by AWM Investment Company Inc.

AWM Investment Company Inc. grew its stake in shares of nLight (NASDAQ:LASR) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,344,917 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. nLight comprises approximately 3.0% of AWM Investment Company Inc.’s investment portfolio, making the stock its 7th largest holding. AWM Investment Company Inc. owned about 2.70% of nLight worth $26,468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invenomic Capital Management LP purchased a new stake in nLight during the 1st quarter valued at about $6,763,000. AIGH Capital Management LLC acquired a new position in nLight during the second quarter valued at $11,810,000. Arrowstreet Capital Limited Partnership purchased a new stake in nLight in the second quarter valued at $6,778,000. Cinctive Capital Management LP grew its position in nLight by 228.8% during the 1st quarter. Cinctive Capital Management LP now owns 412,555 shares of the company’s stock worth $3,206,000 after purchasing an additional 287,079 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of nLight by 237.3% during the 2nd quarter. Jane Street Group LLC now owns 260,411 shares of the company’s stock valued at $5,125,000 after buying an additional 183,210 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Stock Down 5.5%

Shares of LASR opened at $36.12 on Friday. The stock has a 50 day moving average price of $32.56 and a 200 day moving average price of $26.36. nLight has a one year low of $6.20 and a one year high of $38.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -41.05 and a beta of 2.34.

Analysts Set New Price Targets

Several research firms have commented on LASR. Needham & Company LLC upped their price objective on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus lifted their price target on shares of nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Cantor Fitzgerald upped their price objective on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Insider Buying and Selling at nLight

In related news, Director Raymond A. Link sold 12,560 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $35.33, for a total transaction of $443,744.80. Following the completion of the sale, the director owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. This represents a 10.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James Nias sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accounting officer directly owned 99,512 shares in the company, valued at $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 105,946 shares of company stock valued at $3,448,291 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

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.