Federated Hermes Inc. Boosts Stake in nLight $LASR

Federated Hermes Inc. increased its holdings in shares of nLight (NASDAQ:LASR) by 161,736.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,300 shares of the company’s stock after purchasing an additional 79,251 shares during the quarter. Federated Hermes Inc. owned 0.16% of nLight worth $2,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of nLight during the third quarter valued at about $49,000. Osaic Holdings Inc. boosted its position in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares during the period. Nisa Investment Advisors LLC increased its holdings in nLight by 162.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after purchasing an additional 1,700 shares during the last quarter. Militia Capital Partners LP purchased a new stake in nLight in the second quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC raised its position in nLight by 213.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,764 shares of the company’s stock valued at $94,000 after purchasing an additional 3,246 shares during the period. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLight Trading Down 12.2%

NASDAQ:LASR opened at $43.86 on Thursday. nLight has a 1 year low of $6.20 and a 1 year high of $50.78. The stock has a market cap of $2.23 billion, a P/E ratio of -49.84 and a beta of 2.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. The stock has a 50-day simple moving average of $40.05 and a 200-day simple moving average of $32.59.

Insider Activity at nLight

In other news, CFO Joseph John Corso sold 66,075 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00. Following the completion of the transaction, the chief financial officer owned 196,224 shares in the company, valued at approximately $7,126,855.68. This represents a 25.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO James Nias sold 1,200 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $30.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief accounting officer directly owned 99,512 shares in the company, valued at $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 141,262 shares of company stock valued at $5,101,910. Company insiders own 4.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LASR shares. Roth Mkm lifted their target price on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC increased their target price on shares of nLight from $39.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Thursday, January 22nd. Stifel Nicolaus began coverage on nLight in a research report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, nLight presently has an average rating of “Moderate Buy” and an average target price of $40.00.

nLight Company 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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.