nLIGHT, Inc. (NASDAQ:LASR) Short Interest Update

nLIGHT, Inc. (NASDAQ:LASR) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 1,050,000 shares, a decrease of 16.0% from the August 31st total of 1,250,000 shares. Based on an average trading volume of 274,100 shares, the days-to-cover ratio is currently 3.8 days.

nLIGHT Stock Up 1.2 %

Shares of NASDAQ LASR opened at $10.83 on Monday. nLIGHT has a fifty-two week low of $8.13 and a fifty-two week high of $15.00. The business has a 50 day moving average price of $11.23 and a two-hundred day moving average price of $11.83. The firm has a market cap of $515.13 million, a PE ratio of -10.62 and a beta of 2.36.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The firm 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 firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) EPS. On average, analysts anticipate that nLIGHT will post -0.96 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On nLIGHT

A number of hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its stake in 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 acquiring an additional 1,503 shares during the period. Price T Rowe Associates Inc. MD boosted its position in nLIGHT by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock valued at $172,000 after purchasing an additional 1,886 shares during the period. State Board of Administration of Florida Retirement System boosted its position in nLIGHT by 9.6% during 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 purchasing an additional 1,220 shares during the period. MQS Management LLC bought a new position in nLIGHT during the 2nd quarter worth $197,000. Finally, The Manufacturers Life Insurance Company increased its position in nLIGHT by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock worth $204,000 after buying an additional 1,546 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LASR. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of nLIGHT in a research note on Monday, August 5th. Benchmark reaffirmed a “speculative buy” rating and issued a $17.00 target price on shares of nLIGHT in a research report on Friday, August 2nd.

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.