Jupiter Topco LLC Purchases New Holdings in nLight $LASR

Jupiter Topco LLC acquired a new position in nLight (NASDAQ:LASR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,941 shares of the company’s stock, valued at approximately $1,527,000.

A number of other institutional investors have also recently bought and sold shares of LASR. Osaic Holdings Inc. increased 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 purchasing an additional 1,727 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 647 shares during the last quarter. Wexford Capital LP bought a new position in nLight during the third quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd grew its position in nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares during the period. Institutional investors own 83.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LASR. UBS Group set a $90.00 price objective on shares of nLight in a research report on Friday, July 10th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price target on shares of nLight in a report on Friday, May 8th. Craig Hallum upped their price objective on nLight from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Finally, Stifel Nicolaus increased their price objective on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.94.

Insider Activity

In other news, CEO Scott Keeney sold 181,750 shares of nLight stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $44.15, for a total value of $8,024,262.50. Following the sale, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $96,469,471.85. This trade represents a 7.68% decrease in their position. The sale was disclosed in a filing 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. Also, Director William Gossman sold 15,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $44.36, for a total transaction of $665,400.00. Following the completion of the transaction, the director owned 100,251 shares of the company’s stock, valued at $4,447,134.36. This trade represents a 13.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 378,500 shares of company stock worth $17,210,102 over the last three months. 3.10% of the stock is owned by insiders.

nLight Price Performance

NASDAQ LASR opened at $40.06 on Friday. The company’s 50 day simple moving average is $59.28 and its two-hundred day simple moving average is $64.42. nLight has a 1 year low of $27.22 and a 1 year high of $86.95. The stock has a market capitalization of $2.31 billion, a PE ratio of -160.24 and a beta of 2.30.

nLight (NASDAQ:LASR) last announced its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. On average, research analysts anticipate that nLight will post -0.19 EPS for the current 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.