MQS Management LLC Takes Position in nLIGHT, Inc. (NASDAQ:LASR)

MQS Management LLC bought a new position in nLIGHT, Inc. (NASDAQ:LASR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,038 shares of the company’s stock, valued at approximately $197,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LASR. ProShare Advisors LLC raised its position in shares of nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after purchasing an additional 1,503 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of nLIGHT by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after buying an additional 1,886 shares during the period. State Board of Administration of Florida Retirement System grew its stake in nLIGHT by 9.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock valued at $181,000 after buying an additional 1,220 shares during the last quarter. Quest Partners LLC raised its holdings in nLIGHT by 15,830.4% in the 2nd quarter. Quest Partners LLC now owns 21,984 shares of the company’s stock worth $240,000 after acquiring an additional 21,846 shares during the period. Finally, EntryPoint Capital LLC lifted its position in nLIGHT by 484.2% during the 1st quarter. EntryPoint Capital LLC now owns 20,703 shares of the company’s stock worth $269,000 after acquiring an additional 17,159 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the sale, the chief financial officer now owns 171,434 shares in the company, valued at approximately $1,961,204.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LASR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th. Benchmark reaffirmed a “speculative buy” rating and issued a $17.00 target price on shares of nLIGHT in a report on Friday, August 2nd.

nLIGHT Trading Down 1.8 %

Shares of LASR stock opened at $10.66 on Friday. The firm has a market capitalization of $507.04 million, a P/E ratio of -10.45 and a beta of 2.36. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.00. The firm’s fifty day simple moving average is $11.42 and its 200 day simple moving average is $11.91.

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