Vanguard Group Inc. Sells 901,012 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Vanguard Group Inc. cut its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,593,169 shares of the company's stock after selling 901,012 shares during the quarter. Vanguard Group Inc. owned about 7.42% of nLIGHT worth $37,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Picton Mahoney Asset Management grew 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 last quarter. R Squared Ltd acquired a new position in nLIGHT in the 4th quarter valued at approximately $33,000. KLP Kapitalforvaltning AS bought a new stake in shares of nLIGHT in the 4th quarter worth approximately $102,000. Moody National Bank Trust Division acquired a new stake in shares of nLIGHT during the 4th quarter worth approximately $115,000. Finally, Quantbot Technologies LP increased its position in shares of nLIGHT by 17.6% during the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after purchasing an additional 1,772 shares during the period. Institutional investors and hedge funds own 83.88% of the company's stock.

Wall Street Analyst Weigh In

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

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Insiders Place Their Bets

In related news, CEO Scott H. Keeney sold 53,511 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the completion of the transaction, the chief executive officer now owns 1,267,927 shares in the company, valued at $10,358,963.59. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.10% of the company's stock.

nLIGHT Trading Down 1.1 %

LASR stock traded down $0.08 during trading on Tuesday, hitting $7.25. 295,148 shares of the stock traded hands, compared to its average volume of 324,391. The stock has a market cap of $355.47 million, a price-to-earnings ratio of -7.04 and a beta of 2.24. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The company has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $10.31.

nLIGHT (NASDAQ:LASR - Get Free Report) last posted its 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 firm had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. As a group, analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

nLIGHT 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.