nLight $LASR Shares Sold by Roubaix Capital LLC

Roubaix Capital LLC decreased its holdings in shares of nLight (NASDAQ:LASR) by 55.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,389 shares of the company’s stock after selling 77,659 shares during the period. Roubaix Capital LLC’s holdings in nLight were worth $3,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LASR. Osaic Holdings Inc. raised its holdings in shares of nLight by 1,599.1% in 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 in the last quarter. Sunbelt Securities Inc. lifted its stake in nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 647 shares in the last quarter. Financial Consulate Inc. bought a new stake in nLight during the fourth quarter worth approximately $41,000. Finally, Wexford Capital LP bought a new stake in nLight during the third quarter worth approximately $41,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LASR. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. UBS Group set a $90.00 price objective on nLight in a research note on Friday, July 10th. Stifel Nicolaus lifted their target price on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $80.94.

Insider Buying and Selling

In other nLight news, CFO Joseph John Corso sold 35,476 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40. Following the sale, the chief financial officer directly owned 177,572 shares of the company’s stock, valued at $12,501,068.80. The trade was a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 46,735 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $68.48, for a total value of $3,200,412.80. Following the completion of the sale, the chief executive officer owned 2,375,519 shares of the company’s stock, valued at $162,675,541.12. The trade was a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 391,038 shares of company stock valued at $28,367,419 in the last ninety days. Company insiders own 3.10% of the company’s stock.

nLight Price Performance

Shares of LASR opened at $69.25 on Friday. nLight has a one year low of $18.51 and a one year high of $86.95. The company has a 50-day moving average of $70.29 and a two-hundred day moving average of $61.60. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -230.83 and a beta of 2.30.

nLight (NASDAQ:LASR) last released its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The business had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. During the same period last year, the firm posted ($0.04) earnings per share. The firm’s quarterly revenue was up 55.2% compared to the same quarter last year. Analysts anticipate that nLight will post -0.17 earnings per share for the current year.

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. 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.