Stephens Investment Management Group LLC Cuts Stock Position in nLight $LASR

Stephens Investment Management Group LLC decreased its holdings in shares of nLight (NASDAQ:LASR) by 18.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 845,456 shares of the company’s stock after selling 188,920 shares during the quarter. Stephens Investment Management Group LLC owned about 1.69% of nLight worth $25,051,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LASR. GAMMA Investing LLC increased its holdings in shares of nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after buying an additional 924 shares during the last quarter. Global Retirement Partners LLC purchased a new position in nLight in the third quarter worth about $49,000. Osaic Holdings Inc. increased its stake in nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after acquiring an additional 1,727 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in nLight by 162.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Militia Capital Partners LP purchased a new stake in nLight during the second quarter valued at approximately $71,000. Institutional investors own 83.88% of the company’s stock.

Insider Activity at nLight

In related news, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the sale, the chief financial officer owned 196,224 shares in the company, valued at approximately $7,126,855.68. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the transaction, the director owned 102,576 shares in the company, valued at $3,624,010.08. The trade was a 10.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 141,262 shares of company stock valued at $5,101,910 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

nLight Stock Up 0.3%

NASDAQ:LASR opened at $43.94 on Friday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -49.93 and a beta of 2.33. nLight has a twelve month low of $6.20 and a twelve month high of $46.64. 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 fifty day simple moving average of $36.37 and a 200-day simple moving average of $30.16.

Analysts Set New Price Targets

A number of brokerages have recently commented on LASR. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a research note on Wednesday, December 17th. Cantor Fitzgerald boosted their price objective on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Roth Capital assumed coverage on shares of nLight in a report on Wednesday, December 17th. They issued a “buy” rating and a $44.00 target price for the company. Finally, Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, nLight presently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

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.