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

nLIGHT, Inc. (NASDAQ:LASR) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,230,000 shares, a growth of 17.1% from the January 15th total of 1,050,000 shares. Based on an average daily volume of 422,100 shares, the short-interest ratio is presently 2.9 days.

Insider Activity at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $11.19, for a total value of $167,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at $14,996,233.74. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the sale, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,019 shares of company stock worth $331,365. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LASR. Picton Mahoney Asset Management boosted its position in nLIGHT by 47.4% during the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock valued at $30,000 after purchasing an additional 935 shares in the last quarter. R Squared Ltd bought a new stake in shares of nLIGHT in the 4th quarter valued at about $33,000. Russell Investments Group Ltd. grew its position in shares of nLIGHT by 3,951.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock worth $39,000 after buying an additional 3,596 shares during the last quarter. Point72 DIFC Ltd raised its stake in shares of nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after acquiring an additional 3,913 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after acquiring an additional 3,500 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC dropped their target price on nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st.

nLIGHT Trading Down 3.7 %

Shares of LASR traded down $0.38 during mid-day trading on Monday, hitting $9.99. The company’s stock had a trading volume of 378,424 shares, compared to its average volume of 415,670. The company’s 50-day moving average is $10.87 and its 200-day moving average is $11.07. The firm has a market capitalization of $483.82 million, a price-to-earnings ratio of -9.70 and a beta of 2.18. nLIGHT has a 52-week low of $9.15 and a 52-week high of $14.75.

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.