nVerses Capital LLC Has $45,000 Position in nLIGHT, Inc. (NASDAQ:LASR)

nVerses Capital LLC boosted its stake in nLIGHT, Inc. (NASDAQ:LASR) by 500.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,200 shares of the company’s stock after purchasing an additional 3,500 shares during the quarter. nVerses Capital LLC’s holdings in nLIGHT were worth $45,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LASR. ProShare Advisors LLC grew its stake in shares of nLIGHT by 15.0% in the 1st quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after buying an additional 1,503 shares during the period. Creative Planning bought a new position in nLIGHT in the third quarter worth approximately $136,000. Price T Rowe Associates Inc. MD grew its stake in nLIGHT by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock valued at $172,000 after acquiring 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 first quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock valued at $181,000 after acquiring an additional 1,220 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of nLIGHT during the third quarter worth approximately $179,000. 83.88% of the stock is owned by institutional investors.

nLIGHT Price Performance

NASDAQ LASR opened at $10.78 on Wednesday. The company has a fifty day moving average price of $11.07 and a 200-day moving average price of $11.63. The firm has a market cap of $512.75 million, a price-to-earnings ratio of -10.57 and a beta of 2.35. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.00.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm 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 company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) EPS. On average, research analysts anticipate that nLIGHT, Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LASR. Cantor Fitzgerald began coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of nLIGHT in a report on Monday, August 5th. Finally, Benchmark reiterated a “speculative buy” rating and set a $17.00 price target on shares of nLIGHT in a research note on Friday, August 2nd.

Insider Buying and Selling at nLIGHT

In related news, CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total value of $166,650.00. Following the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at approximately $14,973,846.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total value of $166,650.00. Following the sale, the chief executive officer now owns 1,347,781 shares of the company’s stock, valued at approximately $14,973,846.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction 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 directly owns 171,434 shares of the company’s stock, valued at $1,961,204.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,461 shares of company stock worth $385,684 in the last quarter. 6.10% of the stock is currently owned by company 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.