nLight $LASR Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its holdings in nLight (NASDAQ:LASR) by 89.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,475 shares of the company’s stock after selling 80,604 shares during the period. Y Intercept Hong Kong Ltd’s holdings in nLight were worth $281,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in nLight by 1.6% in the third quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock valued at $661,000 after purchasing an additional 357 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of nLight by 12.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock worth $97,000 after buying an additional 561 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in nLight by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 17,988 shares of the company’s stock worth $354,000 after acquiring an additional 723 shares during the period. 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 valued at $214,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in nLight in the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LASR. Cantor Fitzgerald lifted their target price on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Canaccord Genuity Group raised shares of nLight to a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC raised their target price on nLight from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Finally, Roth Mkm raised their price target on shares of nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

Insiders Place Their Bets

In related news, CAO James Nias sold 1,200 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $30.00, for a total value of $36,000.00. Following the sale, the chief accounting officer directly owned 99,512 shares in the company, valued at approximately $2,985,360. The trade was a 1.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph John Corso sold 66,075 shares of the company’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 transaction of $2,399,844.00. Following the completion of the transaction, the chief financial officer owned 196,224 shares in the company, valued at approximately $7,126,855.68. This represents a 25.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 141,262 shares of company stock valued at $5,101,910 over the last 90 days. Company insiders own 4.70% of the company’s stock.

nLight Stock Up 5.1%

Shares of NASDAQ LASR opened at $46.09 on Friday. The company has a market capitalization of $2.34 billion, a P/E ratio of -52.38 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. The company has a 50 day simple moving average of $40.28 and a 200-day simple moving average of $32.69. nLight has a 1 year low of $6.20 and a 1 year high of $50.78.

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.