Bank of America Corp DE Buys 87,788 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Bank of America Corp DE boosted its holdings in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 72.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 209,644 shares of the company's stock after buying an additional 87,788 shares during the period. Bank of America Corp DE owned 0.43% of nLIGHT worth $2,199,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LASR. SG Americas Securities LLC increased its holdings in shares of nLIGHT by 19.4% in the fourth quarter. SG Americas Securities LLC now owns 20,022 shares of the company's stock worth $210,000 after purchasing an additional 3,250 shares during the last quarter. R Squared Ltd bought a new stake in shares of nLIGHT in the fourth quarter worth about $33,000. Stephens Investment Management Group LLC increased its holdings in shares of nLIGHT by 20.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company's stock worth $9,932,000 after purchasing an additional 162,903 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of nLIGHT by 21.5% in 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 last quarter. Finally, Proficio Capital Partners LLC purchased a new position in nLIGHT in the fourth quarter worth about $237,000. Hedge funds and other institutional investors own 83.88% of the company's stock.

nLIGHT Price Performance

Shares of NASDAQ:LASR traded up $0.94 during trading hours on Wednesday, hitting $17.30. 1,087,888 shares of the company's stock traded hands, compared to its average volume of 383,554. nLIGHT, Inc. has a 1 year low of $6.20 and a 1 year high of $17.70. The business has a fifty day moving average price of $9.87 and a 200-day moving average price of $10.19. The firm has a market capitalization of $855.29 million, a P/E ratio of -16.80 and a beta of 2.02.

nLIGHT (NASDAQ:LASR - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share (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 business had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company's revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling at nLIGHT

In other news, CEO Scott H. Keeney sold 75,000 shares of nLIGHT stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total transaction of $1,149,750.00. Following the completion of the sale, the chief executive officer now owns 1,342,927 shares of the company's stock, valued at approximately $20,587,070.91. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LASR. Needham & Company LLC lifted their price target on nLIGHT from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Craig Hallum upgraded 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, nLIGHT has a consensus rating of "Buy" and a consensus price target of $15.70.

About nLIGHT

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.