24,258 Shares in nLight $LASR Acquired by Burney Co.

Burney Co. purchased a new position in shares of nLight (NASDAQ:LASR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,258 shares of the company’s stock, valued at approximately $719,000.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of nLight by 147.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 924 shares during the period. Osaic Holdings Inc. boosted its holdings in nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares during the last quarter. Nisa Investment Advisors LLC grew its position in nLight by 162.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the period. Militia Capital Partners LP acquired a new stake in nLight during the second quarter worth about $71,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of nLight by 213.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,764 shares of the company’s stock worth $94,000 after purchasing an additional 3,246 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LASR. Canaccord Genuity Group upgraded nLight to a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC boosted their price objective on shares of nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Stifel Nicolaus upped their price target on shares of nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, nLight has a consensus rating of “Moderate Buy” and an average target price of $34.29.

nLight Trading Down 0.3%

LASR opened at $39.20 on Monday. The firm’s 50 day moving average is $33.99 and its 200-day moving average is $27.98. nLight has a 52-week low of $6.20 and a 52-week high of $39.99. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.99 billion, a P/E ratio of -44.55 and a beta of 2.34.

Insider Activity

In related news, CEO Scott H. Keeney sold 15,371 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $35.66, for a total value of $548,129.86. Following the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at approximately $81,483,813.20. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the transaction, the chief financial officer directly owned 196,224 shares of the company’s stock, valued at $7,126,855.68. This represents a 25.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 109,514 shares of company stock worth $3,911,043. Corporate insiders own 6.10% of the company’s stock.

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. 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.