FNY Investment Advisers LLC Buys 41,150 Shares of nLight $LASR

FNY Investment Advisers LLC increased its stake in shares of nLight (NASDAQ:LASR) by 6,151.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 41,819 shares of the company’s stock after acquiring an additional 41,150 shares during the period. FNY Investment Advisers LLC owned 0.08% of nLight worth $1,239,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LASR. Assenagon Asset Management S.A. boosted its position in nLight by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock worth $661,000 after purchasing an additional 357 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of nLight by 12.9% in the second 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 during the period. The Manufacturers Life Insurance Company raised its position 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. Larson Financial Group LLC lifted its stake in shares of nLight by 45.5% in the third quarter. Larson Financial Group LLC now owns 3,488 shares of the company’s stock worth $103,000 after buying an additional 1,091 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of nLight by 4.4% in 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 during the last quarter. 83.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LASR shares. Stifel Nicolaus started coverage on shares of nLight in a research note on Tuesday, January 20th. They issued a “buy” rating and a $60.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Needham & Company LLC upped their price target on shares of nLight from $48.00 to $70.00 and gave the company a “buy” rating in a report on Friday, February 27th. Roth Mkm raised their price target on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Finally, Canaccord Genuity Group upgraded nLight to a “buy” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, nLight presently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

nLight Trading Down 3.7%

Shares of nLight stock opened at $68.54 on Thursday. nLight has a 1 year low of $6.20 and a 1 year high of $72.90. The company’s fifty day simple moving average is $53.22 and its 200-day simple moving average is $39.92. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -145.83 and a beta of 2.27.

nLight (NASDAQ:LASR) last released its earnings results on Thursday, February 26th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $81.19 million during the quarter, compared to analysts’ expectations of $76.71 million. nLight had a negative net margin of 8.98% and a negative return on equity of 9.28%. The business’s quarterly revenue was up 71.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) EPS. As a group, research analysts forecast that nLight will post -1.1 earnings per share for the current fiscal year.

Insider Activity at nLight

In related news, Director Raymond A. Link sold 10,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $62.79, for a total value of $627,900.00. Following the completion of the sale, the director owned 92,576 shares in the company, valued at approximately $5,812,847.04. This trade represents a 9.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph John Corso sold 13,038 shares of nLight stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $61.96, for a total value of $807,834.48. Following the sale, the chief financial officer directly owned 183,186 shares in the company, valued at approximately $11,350,204.56. This trade represents a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 162,528 shares of company stock worth $9,223,597 over the last ninety days. Corporate insiders own 4.70% 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.