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

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

Wall Street Analyst Weigh In

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

nLIGHT Trading Up 3.2 %

Shares of nLIGHT stock traded up $0.25 on Wednesday, reaching $8.08. 331,814 shares of the stock were exchanged, compared to its average volume of 315,930. The business has a fifty day moving average price of $9.74 and a two-hundred day moving average price of $10.58. nLIGHT has a 1-year low of $7.59 and a 1-year high of $14.73. The firm has a market capitalization of $396.17 million, a PE ratio of -7.84 and a beta of 2.29.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 company had revenue of $47.38 million during the quarter, compared to analyst estimates of $46.62 million. Research analysts expect that nLIGHT will post -1.1 EPS for the current year.

Insider Activity at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

Several hedge funds have recently bought and sold shares of LASR. AWM Investment Company Inc. increased its stake in nLIGHT by 9.7% in the fourth quarter. AWM Investment Company Inc. now owns 1,018,993 shares of the company’s stock valued at $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 raised its stake in shares of nLIGHT by 7.7% in the 4th 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 acquiring an additional 5,958 shares during the period. Two Sigma Investments LP grew its position in nLIGHT by 39.9% in the fourth quarter. Two Sigma Investments LP now owns 123,559 shares of the company’s stock valued at $1,296,000 after acquiring an additional 35,260 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in nLIGHT during the 4th quarter worth $2,259,000. Finally, ProShare Advisors LLC increased its stake in nLIGHT by 46.9% during the 4th quarter. ProShare Advisors LLC now owns 19,112 shares of the company’s stock worth $200,000 after buying an additional 6,098 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

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.