nLIGHT, Inc. (NASDAQ:LASR) Short Interest Down 5.9% in July

nLIGHT, Inc. (NASDAQ:LASR) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 1,120,000 shares, a decrease of 5.9% from the July 15th total of 1,190,000 shares. Based on an average daily volume of 229,000 shares, the short-interest ratio is currently 4.9 days.

nLIGHT Trading Up 1.5 %

NASDAQ:LASR opened at $11.62 on Monday. The stock has a 50-day moving average price of $11.60 and a 200 day moving average price of $12.30. The stock has a market capitalization of $552.71 million, a P/E ratio of -11.39 and a beta of 2.39. nLIGHT has a 12-month low of $8.13 and a 12-month high of $15.00.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.33%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted ($0.18) EPS. On average, research analysts predict that nLIGHT will post -0.89 earnings per share for the current fiscal year.

Insider Transactions at nLIGHT

In related news, CFO Joseph John Corso sold 2,500 shares of nLIGHT stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $13.29, for a total transaction of $33,225.00. Following the transaction, the chief financial officer now directly owns 191,578 shares in the company, valued at $2,546,071.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nLIGHT

Several institutional investors have recently bought and sold shares of the stock. Invenomic Capital Management LP bought a new position in shares of nLIGHT during the 4th quarter valued at about $1,139,000. Stephens Investment Management Group LLC grew its holdings in nLIGHT by 17.3% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock valued at $14,104,000 after buying an additional 154,273 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in nLIGHT by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,720 shares of the company’s stock worth $4,829,000 after acquiring an additional 7,660 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of nLIGHT by 112.0% during the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock worth $857,000 after acquiring an additional 34,844 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of nLIGHT during the 4th quarter worth approximately $150,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LASR shares. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th. Benchmark reaffirmed a “speculative buy” rating and issued a $17.00 target price on shares of nLIGHT in a report on Friday, August 2nd.

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.