Stephens Investment Management Group LLC Sells 142,759 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Stephens Investment Management Group LLC lessened its stake in shares of nLIGHT, Inc. (NASDAQ:LASR) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 783,946 shares of the company’s stock after selling 142,759 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.63% of nLIGHT worth $8,380,000 at the end of the most recent reporting period.

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

nLIGHT Stock Performance

NASDAQ LASR opened at $12.26 on Friday. The stock has a 50-day simple moving average of $11.12 and a two-hundred day simple moving average of $11.63. The firm has a market capitalization of $590.02 million, a P/E ratio of -11.35 and a beta of 2.35. nLIGHT, Inc. has a fifty-two week low of $8.51 and a fifty-two week high of $15.00.

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

Insider Activity at nLIGHT

In related news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the transaction, the chief financial officer now owns 171,434 shares in the company, valued at $1,961,204.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction dated Thursday, October 17th. The stock was 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 owns 1,347,781 shares in the company, valued at $15,095,147.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the sale, the chief financial officer now owns 171,434 shares in the company, valued at approximately $1,961,204.96. The trade was 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 worth $385,684 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th. 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 for the company. Finally, Benchmark reiterated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd.

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.