Northern Trust Corp Acquires 46,881 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Northern Trust Corp increased its holdings in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,646 shares of the company's stock after purchasing an additional 46,881 shares during the quarter. Northern Trust Corp owned 0.99% of nLIGHT worth $5,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position in nLIGHT by 47.4% in the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock worth $30,000 after purchasing an additional 935 shares during the period. R Squared Ltd purchased a new position in nLIGHT in the 4th quarter worth $33,000. Russell Investments Group Ltd. raised its position in nLIGHT by 3,951.6% in the 4th 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 during the period. KLP Kapitalforvaltning AS bought a new stake in nLIGHT in the 4th quarter worth $102,000. Finally, Quantbot Technologies LP grew its holdings in nLIGHT by 17.6% in the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock worth $124,000 after acquiring an additional 1,772 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised shares of nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Friday, May 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, nLIGHT has a consensus rating of "Buy" and a consensus target price of $14.90.

nLIGHT Price Performance

nLIGHT stock traded up $0.27 during trading hours on Friday, reaching $14.49. The stock had a trading volume of 1,687,892 shares, compared to its average volume of 359,584. The stock has a market cap of $716.37 million, a PE ratio of -14.07 and a beta of 2.02. nLIGHT, Inc. has a 52 week low of $6.20 and a 52 week high of $14.82. The company has a fifty day simple moving average of $8.92 and a 200-day simple moving average of $10.02.

nLIGHT (NASDAQ:LASR - Get Free Report) last announced its quarterly 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. The business had revenue of $51.67 million for the quarter, compared to analyst estimates of $47.77 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The company's revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. Research analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Scott H. Keeney sold 53,511 shares of nLIGHT stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total transaction of $437,184.87. Following the sale, the chief executive officer now owns 1,267,927 shares of the company's stock, valued at approximately $10,358,963.59. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 57,184 shares of company stock valued at $475,534. Corporate 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.