Short Interest in nLIGHT, Inc. (NASDAQ:LASR) Increases By 20.0%

nLIGHT, Inc. (NASDAQ:LASR) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,560,000 shares, a growth of 20.0% from the February 28th total of 1,300,000 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily volume of 427,100 shares, the short-interest ratio is currently 3.7 days.

Analyst Ratings Changes

Several research firms have recently issued reports on LASR. Stifel Nicolaus reduced their target price on nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Needham & Company LLC decreased their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st.

Insider Buying and Selling at nLIGHT

In other news, CEO Scott H. Keeney sold 53,511 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total value of $437,184.87. Following the completion of the sale, the chief executive officer now owns 1,267,927 shares of the company’s stock, valued at approximately $10,358,963.59. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On nLIGHT

Several hedge funds have recently made changes to their positions in LASR. AWM Investment Company Inc. grew its holdings in nLIGHT by 9.7% in the fourth quarter. AWM Investment Company Inc. now owns 1,018,993 shares of the company’s stock worth $10,689,000 after purchasing an additional 90,040 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in nLIGHT by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,990 shares of the company’s stock valued at $871,000 after buying an additional 5,958 shares in the last quarter. Two Sigma Investments LP raised its holdings in nLIGHT by 39.9% in the 4th quarter. Two Sigma Investments LP now owns 123,559 shares of the company’s stock worth $1,296,000 after purchasing an additional 35,260 shares during the period. Polar Capital Holdings Plc acquired a new stake in nLIGHT in the fourth quarter valued at approximately $2,259,000. Finally, ProShare Advisors LLC lifted its position in shares of nLIGHT by 46.9% during the 4th quarter. ProShare Advisors LLC now owns 19,112 shares of the company’s stock valued at $200,000 after buying an additional 6,098 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLIGHT Stock Performance

LASR traded up $0.25 during trading on Wednesday, reaching $8.08. 331,814 shares of the company traded hands, compared to its average volume of 315,930. nLIGHT has a 12-month low of $7.59 and a 12-month high of $14.73. The firm has a fifty day simple moving average of $9.74 and a 200 day simple moving average of $10.58. The company has a market cap of $396.17 million, a P/E ratio of -7.84 and a beta of 2.29.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The business had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. As a group, sell-side analysts expect that nLIGHT will post -1.1 earnings per share for the current fiscal year.

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.