Tema ETFs LLC Has $27.44 Million Position in nLight $LASR

Tema ETFs LLC lifted its stake in shares of nLight (NASDAQ:LASR) by 84,128.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 394,191 shares of the company’s stock after acquiring an additional 393,723 shares during the period. Tema ETFs LLC’s holdings in nLight were worth $27,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in nLight in the 1st quarter valued at approximately $52,000. Sunbelt Securities Inc. grew its stake in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 647 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock worth $42,000 after buying an additional 1,102 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock worth $46,000 after buying an additional 223 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LASR has been the topic of several recent research reports. Needham & Company LLC raised their price objective on nLight from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of nLight in a research report on Friday, May 8th. Finally, Stifel Nicolaus lifted their price target on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.94.

nLight Price Performance

Shares of LASR stock opened at $49.21 on Wednesday. The business’s 50 day simple moving average is $66.76 and its 200 day simple moving average is $64.88. nLight has a one year low of $24.87 and a one year high of $86.95. The stock has a market capitalization of $2.78 billion, a PE ratio of -196.84 and a beta of 2.31.

nLight (NASDAQ:LASR) last released its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 3.19%. The business had revenue of $82.59 million during the quarter, compared to the consensus estimate of $78.58 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, research analysts expect that nLight will post -0.19 earnings per share for the current year.

Insider Activity

In related news, CFO Joseph John Corso sold 3,817 shares of nLight stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $72.90, for a total transaction of $278,259.30. Following the completion of the transaction, the chief financial officer owned 169,915 shares of the company’s stock, valued at $12,386,803.50. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 business’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 $73,310.60. Following the completion of the transaction, the chief accounting officer owned 97,621 shares in the company, valued at approximately $7,613,461.79. The trade was a 0.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 391,038 shares of company stock valued at $28,367,419. 3.10% of the stock is currently owned by insiders.

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.