Raymond James Financial Inc. Takes Position in nLIGHT, Inc. (NASDAQ:LASR)

Raymond James Financial Inc. acquired a new stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 188,413 shares of the company's stock, valued at approximately $1,976,000. Raymond James Financial Inc. owned approximately 0.39% of nLIGHT as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management raised its stake in nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after buying an additional 935 shares during the last quarter. R Squared Ltd bought a new position in shares of nLIGHT during the fourth quarter worth $33,000. Russell Investments Group Ltd. raised its holdings in shares of nLIGHT by 3,951.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock worth $39,000 after acquiring an additional 3,596 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in nLIGHT in the fourth quarter worth about $102,000. Finally, Moody National Bank Trust Division bought a new position in nLIGHT during the fourth quarter valued at $115,000. Institutional investors own 83.88% of the company's stock.

nLIGHT Price Performance

LASR traded up $0.51 on Friday, reaching $8.47. 328,953 shares of the company's stock were exchanged, compared to its average volume of 327,711. nLIGHT, Inc. has a twelve month low of $6.20 and a twelve month high of $14.73. The stock has a market cap of $418.75 million, a PE ratio of -8.22 and a beta of 2.02. The stock's fifty day moving average price is $8.07 and its 200-day moving average price is $10.00.

nLIGHT (NASDAQ:LASR - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.21). The company had revenue of $47.38 million during the quarter, compared to analyst estimates of $46.62 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. As a group, research analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at $10,358,963.59. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LASR shares. Stifel Nicolaus cut their price target 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 decreased their price objective on nLIGHT from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, January 21st.

nLIGHT 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.