Counterpoint Mutual Funds LLC Takes Position in nLight $LASR

Counterpoint Mutual Funds LLC acquired a new position in nLight (NASDAQ:LASR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,065 shares of the company’s stock, valued at approximately $506,000.

Several other large investors also recently added to or reduced their stakes in LASR. Vanguard Group Inc. raised its position in nLight by 18.2% in the third quarter. Vanguard Group Inc. now owns 4,864,312 shares of the company’s stock worth $144,130,000 after acquiring an additional 747,958 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in nLight in the 2nd quarter worth $6,778,000. Emerald Mutual Fund Advisers Trust purchased a new position in nLight during the third quarter valued at $8,626,000. Jane Street Group LLC grew its holdings in nLight by 237.3% during the second quarter. Jane Street Group LLC now owns 260,411 shares of the company’s stock valued at $5,125,000 after purchasing an additional 183,210 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in nLight by 94.6% during the second quarter. Raymond James Financial Inc. now owns 365,091 shares of the company’s stock valued at $7,185,000 after purchasing an additional 177,495 shares during the period. 83.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on nLight from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Stifel Nicolaus began coverage on shares of nLight in a research note on Tuesday, January 20th. They issued a “buy” rating and a $60.00 price objective for the company. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Thursday, January 22nd. Finally, Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Activity at nLight

In other news, CEO Scott H. Keeney sold 31,748 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the completion of the transaction, the chief executive officer directly owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the completion of the sale, the chief financial officer owned 196,224 shares in the company, 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. Insiders have sold a total of 127,502 shares of company stock worth $4,622,166 over the last ninety days. Insiders own 6.10% of the company’s stock.

nLight Trading Up 5.4%

Shares of LASR stock opened at $57.64 on Wednesday. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -65.50 and a beta of 2.33. nLight has a 12-month low of $6.20 and a 12-month high of $60.76. The stock’s 50-day moving average price is $44.92 and its 200-day moving average price is $35.91.

nLight 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.