Andar Capital Management HK Ltd Buys New Stake in nLight $LASR

Andar Capital Management HK Ltd purchased a new stake in nLight (NASDAQ:LASR) during the first quarter, according to its most recent filing with the SEC. The fund purchased 90,000 shares of the company’s stock, valued at approximately $5,132,000. nLight comprises about 4.4% of Andar Capital Management HK Ltd’s portfolio, making the stock its 9th largest holding. Andar Capital Management HK Ltd owned approximately 0.16% of nLight as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Osaic Holdings Inc. boosted its position in shares of nLight by 1,599.1% during the 2nd 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. Sunbelt Securities Inc. increased its position in nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares in the last quarter. Financial Consulate Inc. purchased a new stake in shares of nLight during the 4th quarter valued at about $41,000. Finally, Wexford Capital LP bought a new position in shares of nLight in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LASR. UBS Group set a $90.00 price objective on nLight in a research note on Friday, July 10th. William Blair initiated coverage on nLight in a research report on Friday, March 27th. They set an “outperform” rating on the stock. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of nLight in a report on Friday, May 8th. Roth Capital reiterated a “buy” rating and set a $81.00 price target on shares of nLight in a report on Friday, April 24th. Finally, Needham & Company LLC boosted their target price on nLight from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $80.94.

Insider Activity at nLight

In other nLight news, CFO Joseph John Corso sold 35,476 shares of nLight stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total value of $2,497,510.40. Following the transaction, the chief financial officer directly owned 177,572 shares of the company’s stock, valued at approximately $12,501,068.80. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 46,735 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total value of $3,200,412.80. Following the transaction, the chief executive officer owned 2,375,519 shares in the company, valued at approximately $162,675,541.12. This trade represents a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 391,038 shares of company stock valued at $28,367,419. 3.10% of the stock is currently owned by company insiders.

nLight Stock Performance

NASDAQ LASR opened at $68.31 on Tuesday. The company has a market cap of $3.85 billion, a PE ratio of -227.69 and a beta of 2.30. The firm’s 50 day moving average price is $69.96 and its 200-day moving average price is $61.97. nLight has a 52-week low of $18.51 and a 52-week high of $86.95.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. The firm had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The firm’s quarterly revenue was up 55.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) EPS. On average, analysts forecast that nLight will post -0.17 earnings per share for the current fiscal year.

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. 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.