Rice Hall James & Associates LLC Decreases Stock Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Rice Hall James & Associates LLC decreased its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 216,459 shares of the company’s stock after selling 1,127 shares during the quarter. Rice Hall James & Associates LLC owned 0.45% of nLIGHT worth $2,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LASR. nVerses Capital LLC lifted its stake in shares of nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after purchasing an additional 3,500 shares during the period. International Assets Investment Management LLC lifted its stake in shares of nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock worth $114,000 after purchasing an additional 9,690 shares during the period. Creative Planning bought a new position in shares of nLIGHT in the 3rd quarter worth approximately $136,000. ProShare Advisors LLC lifted its stake in shares of nLIGHT by 15.0% in the 1st quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock worth $150,000 after purchasing an additional 1,503 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of nLIGHT by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after purchasing an additional 1,886 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Trading Down 1.8 %

NASDAQ LASR opened at $12.26 on Friday. nLIGHT, Inc. has a 12 month low of $8.51 and a 12 month high of $15.00. The stock has a market cap of $590.02 million, a price-to-earnings ratio of -11.35 and a beta of 2.35. The company’s 50 day moving average is $11.12 and its two-hundred day moving average is $11.63.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The business had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. During the same period last year, the firm posted ($0.18) EPS. The company’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts forecast that nLIGHT, Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the stock. Benchmark restated a “speculative buy” rating and set a $17.00 target price on shares of nLIGHT in a research note on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of nLIGHT in a research note on Monday, August 5th.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the sale, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at $1,961,204.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Scott H. Keeney sold 15,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $11.20, for a total value of $168,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at approximately $15,095,147.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,461 shares of company stock valued at $385,684 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

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.