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

30 Sep 2024, 12:38 by Kim Johansen · The Markets Daily

nLIGHT, Inc. (NASDAQ:LASR – Get Free Report) 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 – Get Free Report) 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.

View Our Latest Stock Analysis on nLIGHT

About nLIGHT

(Get Free Report)