Odyssean LLC Buys Shares of 13,938 nLight $LASR

Odyssean LLC acquired a new position in nLight (NASDAQ:LASR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,938 shares of the company’s stock, valued at approximately $970,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LASR. Jupiter Topco LLC purchased a new stake in shares of nLight in the second quarter worth $1,527,000. AWM Investment Company Inc. bought a new stake in nLight in the 2nd quarter worth approximately $65,374,000. Hsbc Holdings PLC purchased a new position in shares of nLight in the 2nd quarter worth $216,000. Primecap Management Co. CA purchased a new stake in shares of nLight during the 2nd quarter valued at about $15,702,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of nLight in the 2nd quarter valued at about $891,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LASR has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research report on Friday, July 17th. Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of nLight in a research report on Friday, May 8th. Stifel Nicolaus upped their price target on shares of nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, UBS Group set a $90.00 price objective on nLight in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, nLight presently has an average rating of “Moderate Buy” and an average target price of $87.94.

Insiders Place Their Bets

In other nLight news, CEO Scott H. Keeney sold 181,750 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $46.88, for a total transaction of $8,520,440.00. Following the completion of the transaction, the chief executive officer directly owned 2,185,039 shares of the company’s stock, valued at approximately $102,434,628.32. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph John Corso sold 3,840 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total transaction of $299,481.60. Following the transaction, the chief financial officer directly owned 173,732 shares of the company’s stock, valued at approximately $13,549,358.68. This trade represents a 2.16% 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. In the last ninety days, insiders sold 438,458 shares of company stock valued at $22,125,159. 3.10% of the stock is owned by insiders.

nLight Price Performance

Shares of LASR opened at $43.70 on Thursday. The firm has a market capitalization of $2.52 billion, a PE ratio of -174.80 and a beta of 2.31. nLight has a 1-year low of $27.22 and a 1-year high of $86.95. The company’s fifty day moving average price is $62.43 and its 200-day moving average price is $65.06.

nLight (NASDAQ:LASR) last issued its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, research analysts anticipate that nLight will post -0.19 EPS for the current fiscal year.

nLight 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.