Odyssean LLC Acquires Shares of 13,938 nLight $LASR

Odyssean LLC acquired a new position in nLight (NASDAQ:LASR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,938 shares of the company’s stock, valued at approximately $970,000.

A number of other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. grew its position in shares of nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after purchasing an additional 223 shares in the last quarter. Quantinno Capital Management LP raised its position in nLight by 0.7% in the first quarter. Quantinno Capital Management LP now owns 41,808 shares of the company’s stock valued at $2,384,000 after purchasing an additional 281 shares during the period. ProShare Advisors LLC lifted its position in nLight by 2.7% in the fourth quarter. ProShare Advisors LLC now owns 13,745 shares of the company’s stock valued at $516,000 after buying an additional 358 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of nLight by 1.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,574 shares of the company’s stock worth $997,000 after acquiring an additional 422 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in nLight by 8.0% during the fourth quarter. NewEdge Advisors LLC now owns 6,003 shares of the company’s stock worth $225,000 after purchasing an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Trading Up 0.9%

NASDAQ LASR opened at $43.70 on Thursday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -174.80 and a beta of 2.31. The business’s 50 day moving average is $62.43 and its two-hundred day moving average is $65.06. nLight has a 12-month low of $27.22 and a 12-month high of $86.95.

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

Insiders Place Their Bets

In other news, CFO Joseph John Corso sold 3,840 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total transaction of $299,481.60. Following the transaction, the chief financial officer directly owned 173,732 shares of the company’s stock, valued at $13,549,358.68. This represents a 2.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, CAO James Nias sold 940 shares of the stock in a transaction dated 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 transaction, the chief accounting officer owned 97,621 shares of the company’s stock, valued at $7,613,461.79. This represents a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 438,458 shares of company stock worth $22,125,159. 3.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LASR shares. Craig Hallum upped their price objective on nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Stifel Nicolaus boosted their price target on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Needham & Company LLC raised their target price on shares of nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. UBS Group set a $90.00 price target on nLight in a research report on Friday, July 10th. Finally, Wall Street Zen cut shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.94.

nLight 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.