Assenagon Asset Management S.A. Lowers Stock Holdings in nLight (NASDAQ:LASR)

Assenagon Asset Management S.A. cut its holdings in nLight (NASDAQ:LASR - Free Report) by 48.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,944 shares of the company's stock after selling 20,364 shares during the period. Assenagon Asset Management S.A.'s holdings in nLight were worth $171,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LASR. Proficio Capital Partners LLC acquired a new position in nLight in the fourth quarter valued at approximately $237,000. Charles Schwab Investment Management Inc. lifted its holdings in nLight by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,684 shares of the company's stock valued at $4,077,000 after acquiring an additional 2,900 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in nLight by 5.3% in the fourth quarter. Victory Capital Management Inc. now owns 102,700 shares of the company's stock valued at $1,077,000 after acquiring an additional 5,200 shares during the last quarter. Raymond James Financial Inc. acquired a new position in nLight in the fourth quarter valued at approximately $1,976,000. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in nLight by 26.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 30,905 shares of the company's stock valued at $324,000 after acquiring an additional 6,421 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Craig Hallum upgraded nLight from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a research note on Friday, May 9th. Needham & Company LLC upped their price target on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $15.70.

nLight Stock Performance

Shares of LASR traded down $0.97 during mid-day trading on Friday, reaching $17.40. The company's stock had a trading volume of 1,468,294 shares, compared to its average volume of 861,293. nLight has a 12-month low of $6.20 and a 12-month high of $19.44. The company has a current ratio of 5.81, a quick ratio of 4.63 and a debt-to-equity ratio of 0.09. The company's 50 day moving average is $12.65 and its 200 day moving average is $10.83.

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 analysts' consensus estimates of ($0.17) by $0.13. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The business had revenue of $51.67 million for the quarter, compared to the consensus estimate of $47.77 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The business's revenue for the quarter was up 16.2% on a year-over-year basis. Equities analysts anticipate that nLight will post -1.1 EPS for the current year.

Insider Activity

In related news, CEO Scott H. Keeney sold 30,939 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $19.18, for a total transaction of $593,410.02. Following the transaction, the chief executive officer now owns 1,246,538 shares in the company, valued at $23,908,598.84. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joseph John Corso sold 10,062 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $17.62, for a total value of $177,292.44. Following the transaction, the chief financial officer now owns 166,362 shares in the company, valued at $2,931,298.44. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,917 shares of company stock worth $2,666,667. 6.10% of the stock is currently owned by insiders.

nLight Company 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.