Invenomic Capital Management LP Invests $1.14 Million in nLIGHT, Inc. (NASDAQ:LASR)

Invenomic Capital Management LP bought a new position in shares of nLIGHT, Inc. (NASDAQ:LASRFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 84,377 shares of the company’s stock, valued at approximately $1,139,000. Invenomic Capital Management LP owned approximately 0.18% of nLIGHT as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of LASR. EP Wealth Advisors LLC acquired a new stake in shares of nLIGHT during the third quarter worth $131,000. Corton Capital Inc. acquired a new position in nLIGHT in the third quarter valued at about $138,000. Pinnacle Wealth Management Advisory Group LLC acquired a new position in nLIGHT in the fourth quarter valued at about $150,000. International Assets Investment Management LLC raised its stake in nLIGHT by 1,212.0% in the fourth quarter. International Assets Investment Management LLC now owns 13,500 shares of the company’s stock valued at $182,000 after purchasing an additional 12,471 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in nLIGHT in the fourth quarter valued at about $256,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LASR. Needham & Company LLC dropped their price target on nLIGHT from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Benchmark reaffirmed a “speculative buy” rating and issued a $17.00 price target on shares of nLIGHT in a research note on Friday, May 3rd.

Get Our Latest Research Report on nLIGHT

nLIGHT Trading Up 2.5 %

nLIGHT stock opened at $12.06 on Tuesday. nLIGHT, Inc. has a 12-month low of $8.13 and a 12-month high of $15.91. The business’s 50-day moving average price is $12.31 and its two-hundred day moving average price is $12.89.

nLIGHT (NASDAQ:LASRGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. nLIGHT had a negative return on equity of 17.86% and a negative net margin of 23.81%. The firm had revenue of $44.53 million for the quarter, compared to analysts’ expectations of $44.35 million. As a group, equities research analysts forecast that nLIGHT, Inc. will post -0.89 EPS for the current year.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of nLIGHT stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $13.29, for a total value of $33,225.00. Following the transaction, the chief financial officer now owns 191,578 shares in the company, valued at $2,546,071.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Geoffrey Moore sold 38,796 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.14, for a total transaction of $509,779.44. Following the sale, the director now directly owns 71,186 shares in the company, valued at $935,384.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $13.29, for a total value of $33,225.00. Following the sale, the chief financial officer now owns 191,578 shares in the company, valued at $2,546,071.62. The disclosure for this sale can be found here. Insiders have sold a total of 55,401 shares of company stock worth $715,932 over the last 90 days. Insiders own 6.10% of the company’s stock.

About nLIGHT

(Free Report)

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.

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Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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