Millennium Management LLC purchased a new stake in Nlight Inc (NASDAQ:LASR) during the 2nd quarter, Holdings Channel reports. The firm purchased 18,147 shares of the company’s stock, valued at approximately $600,000.
A number of other large investors also recently added to or reduced their stakes in LASR. Waddell & Reed Financial Inc. purchased a new position in Nlight during the second quarter valued at $3,306,000. Zevenbergen Capital Investments LLC purchased a new position in shares of Nlight in the 2nd quarter worth about $4,038,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Nlight in the 2nd quarter worth about $7,609,000. Wolverine Asset Management LLC purchased a new position in shares of Nlight in the 2nd quarter worth about $1,653,000. Finally, Needham Investment Management LLC purchased a new position in shares of Nlight in the 2nd quarter worth about $393,000. Institutional investors and hedge funds own 47.10% of the company’s stock.
In other Nlight news, major shareholder Mv Management Ix Llc sold 1,192,205 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total value of $30,329,695.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott H. Keeney sold 180,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total value of $4,579,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,481,622 shares of company stock valued at $63,132,464.
LASR opened at $20.48 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.69 and a current ratio of 5.73. Nlight Inc has a 1 year low of $16.25 and a 1 year high of $43.63.
Nlight (NASDAQ:LASR) last issued its earnings results on Monday, November 5th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $51.03 million during the quarter, compared to analysts’ expectations of $49.20 million. Nlight’s revenue for the quarter was up 39.6% on a year-over-year basis. As a group, equities research analysts anticipate that Nlight Inc will post 0.31 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Nlight from a “sell” rating to a “hold” rating in a research report on Saturday. Benchmark lowered their price target on Nlight from $17.00 to $14.00 and set a “sell” rating for the company in a research report on Tuesday. DA Davidson lowered their price target on Nlight to $30.00 and set a “buy” rating for the company in a research report on Tuesday. Needham & Company LLC lowered their price target on Nlight from $37.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Finally, Northcoast Research lowered Nlight from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Nlight has a consensus rating of “Buy” and an average target price of $33.50.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in North America, Asia, and Europe.
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