Essex Investment Management Co. LLC raised its position in Nlight Inc (NASDAQ:LASR) by 440.4% during the third quarter, Holdings Channel reports. The institutional investor owned 36,808 shares of the company’s stock after buying an additional 29,997 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Nlight were worth $818,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new position in Nlight in the 2nd quarter valued at $107,000. Bank of Montreal Can bought a new position in Nlight in the 2nd quarter valued at $158,000. Rhumbline Advisers bought a new position in Nlight in the 2nd quarter valued at $202,000. Carillon Tower Advisers Inc. bought a new position in Nlight in the 2nd quarter valued at $317,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Nlight in the 2nd quarter valued at $330,000. Hedge funds and other institutional investors own 46.46% of the company’s stock.
A number of research analysts have commented on LASR shares. Zacks Investment Research upgraded Nlight from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, July 24th. Stifel Nicolaus cut their price target on Nlight from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. Northcoast Research downgraded Nlight from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Benchmark assumed coverage on Nlight in a research note on Tuesday, August 28th. They issued a “sell” rating on the stock. Finally, Raymond James raised Nlight from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Nlight has a consensus rating of “Buy” and an average target price of $38.86.
LASR stock opened at $17.76 on Friday. The company has a quick ratio of 4.69, a current ratio of 5.73 and a debt-to-equity ratio of 0.08. Nlight Inc has a twelve month low of $16.40 and a twelve month high of $43.63.
Nlight (NASDAQ:LASR) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $51.70 million during the quarter, compared to analyst estimates of $50.25 million. Nlight’s quarterly revenue was up 49.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Nlight Inc will post 0.31 earnings per share for the current fiscal year.
Nlight Company Profile
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in North America, Asia, and Europe.
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