D.A. Davidson & CO. Purchases Shares of 12,975 Nlight Inc (LASR)
D.A. Davidson & CO. purchased a new stake in shares of Nlight Inc (NASDAQ:LASR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,975 shares of the company’s stock, valued at approximately $288,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Nlight during the second quarter valued at approximately $158,000. Massachusetts Financial Services Co. MA purchased a new stake in Nlight during the second quarter valued at approximately $7,514,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Nlight during the second quarter valued at approximately $330,000. State of Wisconsin Investment Board purchased a new stake in Nlight during the second quarter valued at approximately $1,322,000. Finally, Sei Investments Co. purchased a new stake in Nlight during the second quarter valued at approximately $846,000. Institutional investors and hedge funds own 57.97% of the company’s stock.
Shares of LASR stock opened at $19.68 on Friday. Nlight Inc has a 1 year low of $16.25 and a 1 year high of $43.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 9.12 and a quick ratio of 7.71.
In other news, insider Robert Martinsen sold 1,378 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $19.98, for a total value of $27,532.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bandel L. Carano sold 1,109,417 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total value of $28,223,568.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,516,622 shares of company stock worth $63,791,479.
A number of brokerages have issued reports on LASR. Zacks Investment Research upgraded Nlight from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. Susquehanna Bancshares began coverage on Nlight in a research report on Friday, November 30th. They set a “neutral” rating and a $22.00 price objective on the stock. UBS Group began coverage on Nlight in a research report on Friday, November 30th. They set a “neutral” rating on the stock. DA Davidson decreased their price objective on Nlight to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Finally, Northcoast Research downgraded Nlight from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.22.
TRADEMARK VIOLATION WARNING: This article was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://theolympiareport.com/2018/12/07/d-a-davidson-co-purchases-shares-of-12975-nlight-inc-lasr.html.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in North America, Asia, and Europe.
Featured Story: How the Consumer Price Index (CPI) is calculated?
Receive News & Ratings for Nlight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nlight and related companies with MarketBeat.com's FREE daily email newsletter.