nLight $LASR Shares Sold by Roubaix Capital LLC

Roubaix Capital LLC trimmed its stake in nLight (NASDAQ:LASR) by 55.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 61,389 shares of the company’s stock after selling 77,659 shares during the quarter. Roubaix Capital LLC owned approximately 0.11% of nLight worth $3,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Lisanti Capital Growth LLC boosted its stake in nLight by 23.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 103,978 shares of the company’s stock valued at $3,900,000 after purchasing an additional 19,435 shares during the period. Vanguard Group Inc. grew its position in nLight by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock worth $187,166,000 after purchasing an additional 125,446 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of nLight in the fourth quarter valued at approximately $788,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of nLight in the fourth quarter valued at approximately $776,000. Finally, Laurel Oak Wealth Management LLC bought a new stake in shares of nLight during the first quarter valued at approximately $2,138,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Capital reiterated a “buy” rating and set a $81.00 price objective on shares of nLight in a research report on Friday, April 24th. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of nLight in a research report on Friday, May 8th. UBS Group set a $90.00 target price on nLight in a research note on Friday, July 10th. Zacks Research upgraded nLight from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $80.94.

Insiders Place Their Bets

In other news, CEO Scott H. Keeney sold 16,089 shares of nLight stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.60, for a total transaction of $1,200,239.40. Following the transaction, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $163,003,909.40. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, CFO Joseph John Corso sold 3,817 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $72.90, for a total value of $278,259.30. Following the completion of the sale, the chief financial officer directly owned 169,915 shares in the company, valued at $12,386,803.50. This represents a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 391,038 shares of company stock worth $28,367,419 over the last ninety days. Company insiders own 3.10% of the company’s stock.

nLight Trading Up 5.4%

Shares of NASDAQ:LASR opened at $69.25 on Friday. The company has a 50 day moving average of $70.29 and a 200-day moving average of $61.60. The firm has a market cap of $3.91 billion, a P/E ratio of -230.83 and a beta of 2.30. nLight has a twelve month low of $18.51 and a twelve month high of $86.95.

nLight (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The business had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $72.14 million. During the same period last year, the firm posted ($0.04) earnings per share. The business’s revenue was up 55.2% on a year-over-year basis. Equities research analysts forecast that nLight will post -0.17 EPS for the current year.

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.