Balter Liquid Alternatives LLC bought a new position in Nlight Inc (NASDAQ:LASR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,251 shares of the company’s stock, valued at approximately $432,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new stake in shares of Nlight during the 2nd quarter worth approximately $22,235,000. Wasatch Advisors Inc. acquired a new stake in shares of Nlight during the 2nd quarter worth approximately $8,684,000. Pier Capital LLC acquired a new stake in shares of Nlight during the 2nd quarter worth approximately $7,747,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Nlight during the 2nd quarter worth approximately $7,514,000. Finally, Fred Alger Management Inc. acquired a new stake in shares of Nlight during the 2nd quarter worth approximately $4,971,000. 4.96% of the stock is currently owned by institutional investors and hedge funds.
Nlight stock opened at $32.51 on Friday. Nlight Inc has a fifty-two week low of $22.14 and a fifty-two week high of $43.63. The company has a current ratio of 2.74, a quick ratio of 1.64 and a debt-to-equity ratio of 0.22.
Nlight (NASDAQ:LASR) last posted its earnings results on Wednesday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ 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. The company’s revenue was up 49.0% on a year-over-year basis. analysts anticipate that Nlight Inc will post 0.41 EPS for the current year.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Nlight from a “hold” rating to a “sell” rating in a report on Wednesday. Canaccord Genuity raised their price target on shares of Nlight from $35.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. Needham & Company LLC lifted their target price on shares of Nlight from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, May 29th. Raymond James initiated coverage on shares of Nlight in a report on Monday, May 21st. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on shares of Nlight in a report on Monday, May 21st. They issued a “buy” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Nlight has an average rating of “Buy” and an average price target of $40.00.
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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