Bleakley Financial Group LLC Takes $356,000 Position in nLight $LASR

Bleakley Financial Group LLC purchased a new stake in nLight (NASDAQ:LASR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,023 shares of the company’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in nLight by 1.6% in the third quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock valued at $661,000 after acquiring an additional 357 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of nLight by 12.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock valued at $97,000 after purchasing an additional 561 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of nLight by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,988 shares of the company’s stock valued at $354,000 after purchasing an additional 723 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in nLight by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in nLight during the third quarter worth about $49,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LASR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Thursday, January 22nd. Wall Street Zen downgraded nLight from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Cantor Fitzgerald raised their price target on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Stifel Nicolaus started coverage on nLight in a research note on Tuesday, January 20th. They set a “buy” rating and a $60.00 price target for the company. Finally, Roth Mkm increased their price objective on shares of nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Buying and Selling at nLight

In other news, CEO Scott H. Keeney sold 31,748 shares of nLight stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the sale, 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 at the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of the company’s stock in a transaction on 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 owned 196,224 shares of the company’s stock, valued at $7,126,855.68. The trade was a 25.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 127,502 shares of company stock worth $4,622,166 in the last 90 days. Insiders own 4.70% of the company’s stock.

nLight Stock Up 5.1%

Shares of NASDAQ LASR opened at $60.60 on Thursday. The firm has a market cap of $3.08 billion, a P/E ratio of -68.86 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a 1 year low of $6.20 and a 1 year high of $61.80. The firm’s 50 day moving average price is $45.44 and its 200 day moving average price is $36.08.

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.