JPMorgan Chase & Co. Trims Holdings in nLIGHT, Inc. (NASDAQ:LASR)

JPMorgan Chase & Co. decreased its position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 87.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,023 shares of the company's stock after selling 1,004,982 shares during the quarter. JPMorgan Chase & Co. owned 0.29% of nLIGHT worth $1,490,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after acquiring an additional 935 shares during the period. R Squared Ltd acquired a new position in nLIGHT during the fourth quarter valued at $33,000. KLP Kapitalforvaltning AS purchased a new stake in nLIGHT in the fourth quarter valued at $102,000. Moody National Bank Trust Division acquired a new stake in nLIGHT during the 4th quarter worth about $115,000. Finally, Quantbot Technologies LP raised its stake in shares of nLIGHT by 17.6% during the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after buying an additional 1,772 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company's stock.

nLIGHT Stock Up 3.0 %

Shares of NASDAQ:LASR traded up $0.23 during trading on Thursday, reaching $7.94. 19,402 shares of the company's stock traded hands, compared to its average volume of 325,795. nLIGHT, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $14.73. The company has a 50-day simple moving average of $8.13 and a 200-day simple moving average of $10.05. The firm has a market cap of $389.36 million, a PE ratio of -7.70 and a beta of 2.24.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The business had revenue of $47.38 million during the quarter, compared to analyst estimates of $46.62 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. On average, equities research analysts forecast that nLIGHT, Inc. will post -1.1 EPS for the current year.

Insider Activity

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the transaction, the chief executive officer now owns 1,267,927 shares of the company's stock, valued at $10,358,963.59. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.10% of the company's stock.

Analyst Ratings Changes

LASR has been the topic of several analyst reports. Needham & Company LLC dropped their target price on nLIGHT from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th.

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.