August 28, 2023 – Connor Clark & Lunn Investment Management Ltd. has recently acquired a new position in shares of nLIGHT, Inc. (NASDAQ: LASR) during the first quarter of this year, as mentioned in their most recent disclosure with the Securities & Exchange Commission. The institutional investor added 22,513 shares of nLIGHT, Inc.’s stock to its portfolio, which is valued at approximately $229,000.
nLIGHT, Inc. is a prominent company involved in the design, manufacturing, and sale of semiconductor and fiber lasers for various applications such as industrial usage, microfabrication processes, and aerospace and defense sectors. The company operates within two segments namely Laser Products and Advanced Development. Additionally, they offer fiber amplifiers and beam combination and control systems that are utilized in high-energy laser systems specifically in directed energy applications.
This recent purchase by Connor Clark & Lunn Investment Management Ltd indicates their confidence in the potential growth and attractiveness of nLIGHT’s stocks. By acquiring additional shares in this emerging company, it demonstrates the institutional investor’s belief that nLIGHT can deliver favorable returns on investment.
nLIGHT’s expertise lies not only in developing innovative laser products but also expanding their capabilities through advanced development projects. With a focus on precision engineering and efficient manufacturing processes, nLIGHT is well-positioned to cater to the ever-growing demands of industries relying on laser technology.
The global market for lasers continues to evolve rapidly as increased automation across industries drives demand for precise cutting, welding, marking, and other applications that benefit from laser technology. This growth trajectory indicates promising opportunities for companies like nLIGHT who specialize in providing high-quality lasers for industrial applications.
Furthermore, the utilization of lasers extends beyond conventional manufacturing sectors into microfabrication processes where intricate precision is essential. By capitalizing on this growing market segment through continued research and development efforts focused on enhancing performance attributes such as power output, efficiency, and reliability – nLIGHT is poised to strengthen its position as a leader in the laser industry.
The aerospace and defense sector also presents significant opportunities for nLIGHT. As countries seek to bolster their national security and defense capabilities, the demand for advanced laser systems in directed energy applications has witnessed substantial growth. nLIGHT’s fiber amplifiers, beam combination, and control systems have positioned them favorably to cater to this increasing need.
In summary, Connor Clark & Lunn Investment Management Ltd.’s recent acquisition of shares in nLIGHT, Inc. signifies their confidence in the company’s potential for growth. With a strong focus on designing and manufacturing semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications, nLIGHT is well-positioned to capitalize on the expanding global market for laser technology. Through their commitment to innovation and continued development efforts, nLIGHT stands poised as a leader in providing high-quality laser solutions for various industries.
nLIGHT, Inc.
LASR
Buy
Updated on: 28/08/2023
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NLIGHT Experiences Significant Hedge Fund Activity and Analyst Ratings: A Closer Look at Investor Moves and Financial Performance
On August 28, 2023, several hedge funds made changes to their positions in nLIGHT (NASDAQ:LASR), a leading provider of high-power semiconductor and fiber lasers. One such fund, Keeley Teton Advisors LLC, increased its stake in the company by 10.3% during the first quarter of the year. This move saw them acquiring an additional 4,300 shares of nLIGHT stock, valued at $467,000. Similarly, Tower Research Capital LLC TRC significantly boosted its position in nLIGHT by a whopping 401%, purchasing an extra 4,062 shares worth $51,000.
Another notable player in this investment game was Boston Partners. The firm expanded its holdings in nLIGHT by an impressive 165.3% during the first quarter, adding 25,365 shares valued at $414,000 to its portfolio. Bank of New York Mellon Corp also hiked its stake in nLIGHT by 6.6%, purchasing an additional 127,091 shares worth $20.9 million.
Russell Investments Group Ltd., on the other hand, took a slightly different approach and increased their stake in nLIGHT by approximately one-third (30.4%) during the first quarter. This move allowed them to acquire an extra 83,663 shares valued at $3.65 million.
It is important to note that a significant portion (86.81%) of nLIGHT’s stock is owned by institutional investors and hedge funds.
A number of equities research analysts have shared their opinions on nLIGHT’s current standing as well. Specifically, Craig Hallum raised the price target on LASR shares from $10.00 to $11.00 in a report released on May 5th this year.
Additionally, CL King began coverage on LASR shares recently and assigned a “neutral” rating to the stock on June 1st.
Finally, Needham & Company LLC reiterated a “buy” rating on nLIGHT shares and set a target price of $15.00 in a report published on August 4th.
As for the stock’s performance, NASDAQ:LASR opened at $10.84 on Monday. Over the past year, nLIGHT has seen its share price fluctuate between a low of $8.22 and a high of $15.91. Currently, the company’s 50-day moving average is $13.62, while its 200-day moving average stands at $12.25.
In terms of financial achievements, nLIGHT recently disclosed its quarterly earnings data for the period ending on August 3rd, 2023. The company reported earnings per share (EPS) of ($0.18), which exceeded analysts’ consensus estimates by $0.04.
Despite this positive earnings surprise, nLIGHT had a negative net margin of 23.27% and a negative return on equity of 17.10%. However, the company managed to generate revenue of $53.30 million during the quarter, surpassing analysts’ expectations of $52.37 million.
Sell-side analysts currently forecast that nLIGHT will post an EPS of -0.75 for the current fiscal year.
Overall, these developments showcase intriguing movements within nLIGHT’s investor pool and offer insight into both market sentiment and financial performance indicators for this particular stock as we move forward into the future.
