Y Intercept Hong Kong Ltd Grows Stock Holdings in nLight $LASR

Y Intercept Hong Kong Ltd raised its holdings in shares of nLight (NASDAQ:LASR) by 99.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,589 shares of the company’s stock after purchasing an additional 13,772 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in nLight were worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of nLight by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of nLight by 622.7% in the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock valued at $600,000 after acquiring an additional 66,518 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of nLight by 8.4% in the 2nd quarter. Rhumbline Advisers now owns 75,545 shares of the company’s stock valued at $1,487,000 after acquiring an additional 5,828 shares during the last quarter. American Century Companies Inc. grew its position in nLight by 7.2% in the second quarter. American Century Companies Inc. now owns 107,417 shares of the company’s stock worth $2,114,000 after acquiring an additional 7,179 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in nLight during the second quarter worth approximately $600,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LASR. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price objective on shares of nLight in a research note on Friday, May 8th. Stifel Nicolaus boosted their target price on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Zacks Research upgraded nLight from a “hold” rating to a “strong-buy” rating in a report on Monday. Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Craig Hallum lifted their price objective on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $79.81.

Insider Buying and Selling

In other nLight news, CAO James Nias sold 940 shares of the firm’s 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 transaction, the chief accounting officer owned 97,621 shares of the company’s stock, valued at approximately $7,613,461.79. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 16,089 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $74.60, for a total transaction of $1,200,239.40. Following the completion of the sale, the chief executive officer owned 2,185,039 shares of the company’s stock, valued at approximately $163,003,909.40. This represents a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 391,038 shares of company stock valued at $28,367,419 over the last three months. 3.10% of the stock is owned by company insiders.

nLight Stock Up 27.3%

Shares of NASDAQ LASR opened at $74.71 on Friday. The business has a fifty day simple moving average of $70.25 and a two-hundred day simple moving average of $60.49. The firm has a market cap of $4.21 billion, a PE ratio of -249.03 and a beta of 2.30. nLight has a twelve month low of $17.84 and a twelve month high of $86.95.

nLight (NASDAQ:LASR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The business’s revenue was up 55.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, research analysts expect that nLight will post -0.17 earnings per share for the current year.

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.