Fox Run Management L.L.C. Purchases Shares of 37,149 nLight $LASR

Fox Run Management L.L.C. purchased a new position in shares of nLight (NASDAQ:LASR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 37,149 shares of the company’s stock, valued at approximately $731,000.

Several other large investors also recently made changes to their positions in LASR. GAMMA Investing LLC grew its stake in shares of nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 924 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 acquiring an additional 1,170 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the last quarter. Emerald Advisers LLC bought a new position in shares of nLight in the 2nd quarter valued at about $96,000. Finally, CWM LLC increased its stake in shares of nLight by 191.6% during the 2nd quarter. CWM LLC now owns 8,475 shares of the company’s stock worth $167,000 after purchasing an additional 5,569 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight Stock Performance

NASDAQ:LASR opened at $34.16 on Monday. The stock has a market cap of $1.70 billion, a P/E ratio of -38.82 and a beta of 2.48. The stock has a 50 day simple moving average of $30.50 and a 200 day simple moving average of $22.54. The company has a current ratio of 5.63, a quick ratio of 4.41 and a debt-to-equity ratio of 0.09. nLight has a 1-year low of $6.20 and a 1-year high of $36.59.

nLight (NASDAQ:LASR) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.15. The company had revenue of $61.74 million during the quarter, compared to the consensus estimate of $55.24 million. nLight had a negative net margin of 19.13% and a negative return on equity of 17.18%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. Research analysts anticipate that nLight will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LASR. Raymond James Financial reaffirmed a “strong-buy” rating on shares of nLight in a report on Friday, August 8th. Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a research note on Saturday. Benchmark raised their price objective on nLight from $15.00 to $25.00 and gave the company a “speculative buy” rating in a research report on Friday, August 8th. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, nLight presently has an average rating of “Buy” and a consensus target price of $32.67.

Insiders Place Their Bets

In other news, CEO Scott H. Keeney sold 62,507 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $30.99, for a total transaction of $1,937,091.93. Following the sale, the chief executive officer directly owned 2,319,038 shares of the company’s stock, valued at approximately $71,866,987.62. This represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph John Corso sold 38,284 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $28.29, for a total value of $1,083,054.36. Following the completion of the transaction, the chief financial officer directly owned 273,118 shares of the company’s stock, valued at approximately $7,726,508.22. This trade represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 374,980 shares of company stock worth $10,650,501. Corporate insiders own 6.10% 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.