Ameriprise Financial Inc. cut its position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 92.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,172 shares of the company's stock after selling 559,793 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.10% of nLIGHT worth $484,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Stifel Financial Corp increased its stake in shares of nLIGHT by 11.1% during the 4th quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock valued at $1,675,000 after acquiring an additional 15,904 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in nLIGHT in the fourth quarter valued at approximately $1,976,000. Stephens Investment Management Group LLC grew its holdings in nLIGHT by 20.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company's stock valued at $9,932,000 after purchasing an additional 162,903 shares during the period. Franklin Resources Inc. increased its position in nLIGHT by 145.0% during the fourth quarter. Franklin Resources Inc. now owns 64,295 shares of the company's stock worth $674,000 after purchasing an additional 38,050 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in nLIGHT by 21.5% during the fourth quarter. Rice Hall James & Associates LLC now owns 263,055 shares of the company's stock worth $2,759,000 after purchasing an additional 46,596 shares during the period. Institutional investors and hedge funds own 83.88% of the company's stock.
nLIGHT Stock Performance
Shares of NASDAQ:LASR traded down $0.22 during midday trading on Friday, hitting $17.60. 1,017,525 shares of the company's stock traded hands, compared to its average volume of 391,073. The firm's fifty day moving average price is $10.26 and its two-hundred day moving average price is $10.29. nLIGHT, Inc. has a twelve month low of $6.20 and a twelve month high of $18.78. The company has a market cap of $870.13 million, a PE ratio of -17.09 and a beta of 2.02.
nLIGHT (NASDAQ:LASR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.13. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The company had revenue of $51.67 million for the quarter, compared to analyst estimates of $47.77 million. During the same period last year, the company posted ($0.17) earnings per share. The firm's revenue was up 16.2% compared to the same quarter last year. As a group, equities research analysts anticipate that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of nLIGHT from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Craig Hallum raised nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price target for the company in a research report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.70.
Check Out Our Latest Research Report on LASR
Insider Buying and Selling
In related news, CEO Scott H. Keeney sold 40,680 shares of nLIGHT stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $16.07, for a total transaction of $653,727.60. Following the sale, the chief executive officer now owns 1,281,540 shares of the company's stock, valued at $20,594,347.80. The trade was a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 116,853 shares of company stock valued at $1,818,727. Corporate insiders own 4.70% of the company's stock.
nLIGHT Company Profile
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Free Report)
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.
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