12,800 Shares in nLight $LASR Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in nLight (NASDAQ:LASR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,800 shares of the company’s stock, valued at approximately $891,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LASR. Osaic Holdings Inc. increased its position in nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after buying an additional 1,727 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after acquiring an additional 647 shares during the period. Wexford Capital LP bought a new stake in shares of nLight in the third quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of nLight by 7,871.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after acquiring an additional 1,102 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on LASR shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price target on shares of nLight in a research report on Friday, May 8th. Needham & Company LLC boosted their price objective on shares of nLight from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 9th. UBS Group set a $90.00 target price on shares of nLight in a research report on Friday, July 10th. Wall Street Zen cut shares of nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, nLight presently has an average rating of “Moderate Buy” and a consensus target price of $87.94.

Insider Activity

In other news, CAO James Nias sold 940 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total transaction of $73,310.60. Following the completion of the sale, the chief accounting officer owned 97,621 shares of the company’s stock, valued at approximately $7,613,461.79. This represents a 0.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph John Corso sold 3,840 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total transaction of $299,481.60. Following the sale, the chief financial officer owned 173,732 shares in the company, valued at $13,549,358.68. This represents a 2.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 397,087 shares of company stock worth $19,090,182. 3.10% of the stock is currently owned by corporate insiders.

nLight Stock Performance

Shares of NASDAQ LASR opened at $42.27 on Tuesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of -169.08 and a beta of 2.31. The stock’s fifty day moving average is $61.14 and its 200 day moving average is $64.86. nLight has a 52 week low of $27.22 and a 52 week high of $86.95.

nLight (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $82.59 million during the quarter, compared to analysts’ expectations of $78.58 million. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. nLight’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. Equities research analysts forecast that nLight will post -0.19 earnings per share 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.