nLIGHT, Inc. (NASDAQ:LASR) Shares Acquired by Moody National Bank Trust Division

Moody National Bank Trust Division grew its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 345.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,757 shares of the company's stock after acquiring an additional 37,803 shares during the period. Moody National Bank Trust Division owned about 0.10% of nLIGHT worth $379,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management grew its stake in nLIGHT by 47.4% in the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock worth $30,000 after purchasing an additional 935 shares in the last quarter. R Squared Ltd acquired a new position in nLIGHT in the fourth quarter worth about $33,000. Russell Investments Group Ltd. grew its stake in nLIGHT by 3,951.6% in the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock worth $39,000 after purchasing an additional 3,596 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in nLIGHT in the fourth quarter worth about $102,000. Finally, Quantbot Technologies LP grew its stake in nLIGHT by 17.6% in the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock worth $124,000 after purchasing an additional 1,772 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. 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 note 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 note on Friday, May 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $15.70.

nLIGHT Trading Up 3.8%

NASDAQ LASR traded up $0.66 during trading hours on Thursday, reaching $17.96. The company's stock had a trading volume of 176,191 shares, compared to its average volume of 383,797. The business has a 50-day simple moving average of $10.05 and a 200 day simple moving average of $10.24. nLIGHT, Inc. has a 52 week low of $6.20 and a 52 week high of $18.34. The stock has a market cap of $887.68 million, a PE ratio of -17.41 and a beta of 2.02.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The firm had revenue of $51.67 million for the quarter, compared to analysts' expectations of $47.77 million. During the same quarter last year, the company posted ($0.17) earnings per share. nLIGHT's revenue was up 16.2% on a year-over-year basis. As a group, equities analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current year.

Insider Activity

In other news, CEO Scott H. Keeney sold 40,680 shares of nLIGHT stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 approximately $20,594,347.80. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 116,853 shares of company stock valued at $1,818,727. Insiders own 4.70% of the company's stock.

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.