nLIGHT, Inc. (NASDAQ:LASR) Short Interest Update

nLIGHT, Inc. (NASDAQ:LASR) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,230,000 shares, an increase of 17.1% from the January 15th total of 1,050,000 shares. Based on an average daily volume of 422,100 shares, the days-to-cover ratio is currently 2.9 days.

Analysts Set New Price Targets

LASR has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Insider Activity

In other news, CFO Joseph John Corso sold 2,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.92, for a total transaction of $27,300.00. Following the transaction, the chief financial officer now directly owns 155,129 shares of the company’s stock, valued at $1,694,008.68. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott H. Keeney sold 12,013 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total value of $119,649.48. Following the transaction, the chief executive officer now directly owns 1,340,146 shares in the company, valued at approximately $13,347,854.16. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,019 shares of company stock valued at $331,365 over the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of nLIGHT

Several institutional investors have recently made changes to their positions in LASR. The Manufacturers Life Insurance Company grew its position in shares of nLIGHT by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock worth $204,000 after purchasing an additional 1,546 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of nLIGHT during the third quarter worth about $179,000. Creative Planning bought a new position in nLIGHT during the third quarter valued at approximately $136,000. nVerses Capital LLC boosted its stake in nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after buying an additional 3,500 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in nLIGHT by 969.0% during the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after buying an additional 9,690 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Stock Down 3.7 %

LASR traded down $0.38 during midday trading on Monday, reaching $9.99. The company had a trading volume of 378,424 shares, compared to its average volume of 415,670. The business has a 50-day moving average of $10.87 and a two-hundred day moving average of $11.07. The company has a market cap of $483.82 million, a P/E ratio of -9.70 and a beta of 2.18. nLIGHT has a 1 year low of $9.15 and a 1 year high of $14.75.

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.