FNY Investment Advisers LLC Has $1.24 Million Stake in nLight $LASR

FNY Investment Advisers LLC increased its position in nLight (NASDAQ:LASR) by 6,151.0% in the 3rd quarter, Holdings Channel reports. The firm owned 41,819 shares of the company’s stock after buying an additional 41,150 shares during the quarter. FNY Investment Advisers LLC’s holdings in nLight were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in shares of 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 acquiring an additional 1,727 shares during the period. Wexford Capital LP bought a new stake in nLight in the third quarter valued at about $41,000. Global Retirement Partners LLC bought a new stake in nLight in the third quarter valued at about $49,000. Militia Capital Partners LP acquired a new position in nLight in the second quarter worth about $71,000. Finally, Quarry LP raised its position in nLight by 120.5% in the third quarter. Quarry LP now owns 2,509 shares of the company’s stock worth $74,000 after purchasing an additional 1,371 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight Stock Down 3.7%

NASDAQ:LASR opened at $68.54 on Thursday. The firm has a market cap of $3.82 billion, a PE ratio of -145.83 and a beta of 2.27. nLight has a 12 month low of $6.20 and a 12 month high of $72.90. The company’s 50-day moving average price is $53.22 and its two-hundred day moving average price is $39.92.

nLight (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. nLight had a negative net margin of 8.98% and a negative return on equity of 9.28%. The company had revenue of $81.19 million during the quarter, compared to analyst estimates of $76.71 million. During the same quarter last year, the business posted ($0.30) earnings per share. The company’s revenue was up 71.3% on a year-over-year basis. On average, research analysts expect that nLight will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Joseph John Corso sold 12,290 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $60.39, for a total transaction of $742,193.10. Following the completion of the sale, the chief financial officer directly owned 170,896 shares of the company’s stock, valued at $10,320,409.44. This trade represents a 6.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond A. Link sold 6,644 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $63.28, for a total value of $420,432.32. Following the sale, the director directly owned 77,172 shares of the company’s stock, valued at $4,883,444.16. This represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 162,528 shares of company stock valued at $9,223,597 in the last 90 days. Insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of recent research reports. Canaccord Genuity Group raised nLight to a “buy” rating in a report on Wednesday, December 17th. Zacks Research cut nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Stifel Nicolaus assumed coverage on nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 target price for the company. Robert W. Baird initiated coverage on nLight in a research report on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Needham & Company LLC upped their price target on nLight from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, nLight has a consensus rating of “Moderate Buy” and a consensus target price of $58.31.

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.