291,108 Shares in nLight $LASR Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust bought a new stake in shares of nLight (NASDAQ:LASR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 291,108 shares of the company’s stock, valued at approximately $8,626,000. Emerald Mutual Fund Advisers Trust owned 0.58% of nLight as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of nLight by 147.6% during the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 924 shares during the last quarter. Global Retirement Partners LLC bought a new stake in nLight in the 3rd quarter worth approximately $49,000. Osaic Holdings Inc. grew its position in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares during the period. Nisa Investment Advisors LLC raised its stake in nLight by 162.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after buying an additional 1,700 shares during the last quarter. Finally, Militia Capital Partners LP bought a new position in shares of nLight during the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Stock Up 4.5%

LASR stock opened at $48.00 on Friday. nLight has a twelve month low of $6.20 and a twelve month high of $48.31. 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 stock has a market cap of $2.44 billion, a P/E ratio of -54.55 and a beta of 2.33. The business’s 50-day moving average price is $37.34 and its 200-day moving average price is $30.81.

Insider Activity

In other nLight news, CEO Scott H. Keeney sold 31,748 shares of nLight stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $35.33, for a total transaction of $443,744.80. Following the sale, the director owned 102,576 shares in the company, valued at $3,624,010.08. The trade was a 10.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 141,262 shares of company stock worth $5,101,910 in the last quarter. 4.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LASR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. Roth Mkm started coverage on nLight in a research note on Wednesday, December 17th. They set a “buy” rating and a $44.00 price target for the company. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Needham & Company LLC raised their price objective on shares of nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Canaccord Genuity Group raised shares of nLight to a “buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.43.

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.