nLight $LASR Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in shares of nLight (NASDAQ:LASR) by 78.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,191 shares of the company’s stock after selling 149,822 shares during the period. GSA Capital Partners LLP owned about 0.08% of nLight worth $1,191,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Emerald Mutual Fund Advisers Trust acquired a new position in nLight in the third quarter worth $8,626,000. Federated Hermes Inc. lifted its position in shares of nLight by 161,736.7% in the 3rd quarter. Federated Hermes Inc. now owns 79,300 shares of the company’s stock worth $2,350,000 after buying an additional 79,251 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of nLight by 48,328.6% in the 2nd quarter. Coldstream Capital Management Inc. now owns 13,560 shares of the company’s stock valued at $267,000 after buying an additional 13,532 shares during the period. Harvey Partners LLC grew its position in shares of nLight by 1.7% during the 2nd quarter. Harvey Partners LLC now owns 2,107,348 shares of the company’s stock valued at $41,473,000 after buying an additional 34,348 shares during the last quarter. Finally, Bosun Asset Management LLC bought a new stake in shares of nLight during the 2nd quarter valued at about $599,000. Institutional investors own 83.88% of the company’s stock.

Insider Activity

In related news, CAO James Nias sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $30.00, for a total transaction of $36,000.00. Following the transaction, the chief accounting officer owned 99,512 shares in the company, valued at $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott H. Keeney sold 31,748 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the sale, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at $85,711,100.20. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 128,702 shares of company stock worth $4,658,166 over the last three months. Corporate insiders own 4.70% of the company’s stock.

Analysts Set New Price Targets

LASR has been the topic of a number of recent research reports. Stifel Nicolaus assumed coverage on shares of nLight in a report on Tuesday, January 20th. They issued a “buy” rating and a $60.00 target price on the stock. Wall Street Zen downgraded nLight from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. Cantor Fitzgerald upped their price objective on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Canaccord Genuity Group upgraded nLight to a “buy” rating in a research note on Wednesday, December 17th. One research 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 assigned a Sell rating to the company. According to MarketBeat.com, nLight currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

nLight Stock Performance

LASR stock opened at $54.35 on Thursday. The company has a 50-day simple moving average of $43.37 and a 200 day simple moving average of $34.85. The company has a market capitalization of $2.76 billion, a P/E ratio of -61.76 and a beta of 2.33. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $56.43.

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. 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.