JPMorgan Chase & Co. Sells 2,054,627 Shares of nLIGHT, Inc. (NASDAQ:LASR)

JPMorgan Chase & Co. lessened its holdings in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 64.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,147,005 shares of the company's stock after selling 2,054,627 shares during the quarter. JPMorgan Chase & Co. owned 2.37% of nLIGHT worth $12,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in nLIGHT by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company's stock valued at $204,000 after purchasing an additional 1,546 shares during the period. Quantbot Technologies LP lifted its position in shares of nLIGHT by 25.5% during the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company's stock valued at $108,000 after buying an additional 2,052 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of nLIGHT by 6.7% during the 2nd quarter. Squarepoint Ops LLC now owns 52,823 shares of the company's stock valued at $577,000 after buying an additional 3,332 shares during the last quarter. Sei Investments Co. lifted its position in shares of nLIGHT by 3.3% during the 2nd quarter. Sei Investments Co. now owns 108,376 shares of the company's stock valued at $1,185,000 after buying an additional 3,436 shares during the last quarter. Finally, nVerses Capital LLC lifted its position in shares of nLIGHT by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company's stock valued at $45,000 after buying an additional 3,500 shares during the last quarter. Institutional investors own 83.88% of the company's stock.

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the sale, the chief financial officer now owns 155,129 shares of the company's stock, valued at $1,694,008.68. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott H. Keeney sold 12,013 shares of the firm's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total value of $119,649.48. Following the completion of the sale, the chief executive officer now directly owns 1,340,146 shares in the company, valued at approximately $13,347,854.16. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,019 shares of company stock valued at $860,565. Corporate insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of recent research reports. Needham & Company LLC upped their price target on nLIGHT from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Cantor Fitzgerald assumed coverage on nLIGHT in a research report on Thursday, October 3rd. They set an "overweight" rating and a $15.50 price target on the stock.

nLIGHT Stock Down 1.6 %

LASR traded down $0.18 during trading on Friday, reaching $11.14. 324,292 shares of the company were exchanged, compared to its average volume of 316,332. The company's 50-day moving average is $11.00 and its two-hundred day moving average is $11.20. The company has a market cap of $539.50 million, a price-to-earnings ratio of -10.82 and a beta of 2.19. nLIGHT, Inc. has a 12-month low of $9.64 and a 12-month high of $14.75.

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.