Raymond James Financial Inc. purchased a new stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 188,413 shares of the company's stock, valued at approximately $1,976,000. Raymond James Financial Inc. owned 0.39% of nLIGHT at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of LASR. Quantbot Technologies LP lifted its holdings in shares of nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company's stock valued at $108,000 after purchasing an additional 2,052 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in nLIGHT by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,684 shares of the company's stock valued at $4,077,000 after buying an additional 2,900 shares during the last quarter. R Squared Ltd bought a new stake in nLIGHT in the fourth quarter worth $33,000. SG Americas Securities LLC boosted its holdings in 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 acquiring an additional 3,250 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in shares of nLIGHT by 1,637.2% during the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company's stock valued at $44,000 after acquiring an additional 3,913 shares in the last quarter. Institutional investors own 83.88% of the company's stock.
nLIGHT Stock Performance
Shares of NASDAQ:LASR traded down $0.37 during midday trading on Friday, reaching $6.64. 588,118 shares of the company's stock traded hands, compared to its average volume of 319,389. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The stock has a 50 day moving average of $9.53 and a 200 day moving average of $10.52. The company has a market cap of $325.57 million, a price-to-earnings ratio of -6.45 and a beta of 2.24.
nLIGHT (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.21). nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The company had revenue of $47.38 million for the quarter, compared to analysts' expectations of $46.62 million. Sell-side analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Scott H. Keeney sold 53,511 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total value of $437,184.87. Following the transaction, the chief executive officer now directly owns 1,267,927 shares in the company, valued at $10,358,963.59. This trade represents a 4.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.10% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
LASR has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. Needham & Company LLC dropped their target price on shares of nLIGHT from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st.
Get Our Latest Research Report on LASR
nLIGHT Company Profile
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Free Report)
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.
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