Wasatch Advisors LP Trims Stock Position in nLIGHT, Inc. (NASDAQ:LASR)

Wasatch Advisors LP lowered its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 29.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 349,776 shares of the company’s stock after selling 147,030 shares during the quarter. Wasatch Advisors LP owned approximately 0.75% of nLIGHT worth $4,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of nLIGHT by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 56,000 shares of the company’s stock valued at $582,000 after purchasing an additional 2,846 shares during the last quarter. SG Americas Securities LLC increased its position in shares of nLIGHT by 25.9% during the 4th quarter. SG Americas Securities LLC now owns 24,799 shares of the company’s stock valued at $335,000 after purchasing an additional 5,096 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of nLIGHT by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,720 shares of the company’s stock valued at $4,829,000 after purchasing an additional 7,660 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of nLIGHT by 18.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,088 shares of the company’s stock valued at $708,000 after purchasing an additional 10,485 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of nLIGHT during the 4th quarter valued at approximately $150,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Trading Down 0.1 %

Shares of NASDAQ:LASR opened at $12.05 on Wednesday. The stock has a 50 day moving average of $12.29 and a 200 day moving average of $12.89. nLIGHT, Inc. has a 12-month low of $8.13 and a 12-month high of $15.91.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.01. nLIGHT had a negative return on equity of 17.86% and a negative net margin of 23.81%. The business had revenue of $44.53 million during the quarter, compared to the consensus estimate of $44.35 million. As a group, research analysts expect that nLIGHT, Inc. will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LASR shares. Benchmark reiterated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research note on Friday, May 3rd. Needham & Company LLC cut their price objective on nLIGHT from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 3rd.

Insiders Place Their Bets

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $13.29, for a total value of $33,225.00. Following the completion of the transaction, the chief financial officer now directly owns 191,578 shares in the company, valued at approximately $2,546,071.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Geoffrey Moore sold 38,796 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $13.14, for a total transaction of $509,779.44. Following the completion of the transaction, the director now directly owns 71,186 shares in the company, valued at approximately $935,384.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $13.29, for a total value of $33,225.00. Following the transaction, the chief financial officer now owns 191,578 shares of the company’s stock, valued at $2,546,071.62. The disclosure for this sale can be found here. Insiders sold 55,401 shares of company stock worth $715,932 in the last three months. 6.10% of the stock is owned by company insiders.

nLIGHT Company 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.