nLIGHT, Inc. (NASDAQ:LASR – Get Free Report) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 743,100 shares, a decline of 6.2% from the June 30th total of 792,100 shares. Based on an average trading volume of 238,400 shares, the days-to-cover ratio is currently 3.1 days.
nLIGHT Stock Performance
nLIGHT stock opened at $13.97 on Wednesday. nLIGHT has a 12 month low of $8.22 and a 12 month high of $15.91. The business has a 50 day simple moving average of $14.73 and a 200-day simple moving average of $12.38.
nLIGHT (NASDAQ:LASR – Get Free Report) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.14. nLIGHT had a negative return on equity of 17.20% and a negative net margin of 23.17%. The firm had revenue of $54.09 million during the quarter, compared to analysts’ expectations of $53.41 million. As a group, research analysts anticipate that nLIGHT will post -0.81 EPS for the current fiscal year.
Institutional Trading of nLIGHT
Several large investors have recently added to or reduced their stakes in LASR. Raymond James & Associates grew its holdings in nLIGHT by 20.3% in the 1st quarter. Raymond James & Associates now owns 134,164 shares of the company’s stock valued at $2,326,000 after buying an additional 22,631 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in nLIGHT by 40.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 82,719 shares of the company’s stock valued at $1,434,000 after buying an additional 23,813 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in nLIGHT by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,827,253 shares of the company’s stock valued at $31,685,000 after buying an additional 14,768 shares in the last quarter. Natixis Advisors L.P. grew its holdings in nLIGHT by 37.6% in the 1st quarter. Natixis Advisors L.P. now owns 64,625 shares of the company’s stock valued at $1,121,000 after buying an additional 17,657 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in nLIGHT by 56.6% in the 1st quarter. MetLife Investment Management LLC now owns 23,275 shares of the company’s stock valued at $404,000 after buying an additional 8,409 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LASR has been the subject of a number of analyst reports. CL King initiated coverage on nLIGHT in a report on Thursday, June 1st. They issued a “neutral” rating for the company. Craig Hallum boosted their price objective on nLIGHT from $10.00 to $11.00 in a research report on Friday, May 5th.
About nLIGHT
nLIGHT, Inc designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications.