Quest Partners LLC Has $240,000 Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Quest Partners LLC lifted its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 15,830.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,984 shares of the company’s stock after acquiring an additional 21,846 shares during the period. Quest Partners LLC’s holdings in nLIGHT were worth $240,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LASR. Pinnacle Associates Ltd. grew its stake in shares of nLIGHT by 18.1% in the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after acquiring an additional 309,634 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of nLIGHT by 17.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock valued at $14,104,000 after acquiring an additional 154,273 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of nLIGHT in the fourth quarter valued at about $1,139,000. Corient Private Wealth LLC acquired a new position in shares of nLIGHT in the fourth quarter valued at about $473,000. Finally, GSA Capital Partners LLP grew its stake in shares of nLIGHT by 112.0% in the first quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock valued at $857,000 after acquiring an additional 34,844 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LASR shares. Benchmark reiterated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of nLIGHT in a research note on Monday, August 5th.

nLIGHT Price Performance

Shares of NASDAQ LASR opened at $10.90 on Friday. The company has a 50 day simple moving average of $11.50 and a 200 day simple moving average of $11.99. The firm has a market cap of $518.46 million, a PE ratio of -10.69 and a beta of 2.36. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.00.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. As a group, research analysts anticipate that nLIGHT, Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the sale, the chief financial officer now directly owns 171,434 shares in the company, valued at approximately $1,961,204.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by insiders.

About nLIGHT

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.