Victory Capital Management Inc. Acquires 19,556 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Victory Capital Management Inc. increased its stake in shares of nLIGHT, Inc. (NASDAQ:LASR) by 27.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,500 shares of the company’s stock after acquiring an additional 19,556 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of nLIGHT worth $1,000,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LASR. Pinnacle Associates Ltd. grew its position in nLIGHT by 18.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after purchasing an additional 309,634 shares during the last quarter. Stephens Investment Management Group LLC grew its position in nLIGHT by 17.3% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock worth $14,104,000 after buying an additional 154,273 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in nLIGHT during the fourth quarter worth about $1,139,000. Corient Private Wealth LLC bought a new position in nLIGHT during the fourth quarter valued at about $473,000. Finally, GSA Capital Partners LLP raised its holdings in nLIGHT by 112.0% in the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock valued at $857,000 after acquiring an additional 34,844 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LASR. Benchmark reissued a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of nLIGHT in a research report on Monday, August 5th.

nLIGHT Stock Down 1.8 %

NASDAQ LASR opened at $10.66 on Friday. nLIGHT, Inc. has a twelve month low of $8.13 and a twelve month high of $15.00. The stock has a market cap of $507.04 million, a P/E ratio of -10.45 and a beta of 2.36. The company’s 50-day simple moving average is $11.45 and its 200 day simple moving average is $11.93.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $50.51 million for the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. Research analysts anticipate that nLIGHT, Inc. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at $1,961,204.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.

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.