Raymond James & Associates Raises Stake in nLIGHT, Inc. (NASDAQ:LASR)

Raymond James & Associates lifted its position in shares of nLIGHT, Inc. (NASDAQ:LASR – Get Rating) by 26.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,728 shares of the company’s stock after buying an additional 37,120 shares during the quarter. Raymond James & Associates’ holdings in nLIGHT were worth $1,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank purchased a new stake in nLIGHT in the first quarter valued at approximately $123,000. Arizona State Retirement System grew its holdings in nLIGHT by 12.4% in the second quarter. Arizona State Retirement System now owns 12,015 shares of the company’s stock valued at $123,000 after purchasing an additional 1,330 shares during the period. M&T Bank Corp grew its holdings in nLIGHT by 7.4% in the second quarter. M&T Bank Corp now owns 12,111 shares of the company’s stock valued at $124,000 after purchasing an additional 834 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in nLIGHT in the second quarter valued at approximately $126,000. Finally, BNP Paribas Arbitrage SA grew its holdings in nLIGHT by 233.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,711 shares of the company’s stock valued at $130,000 after purchasing an additional 8,899 shares during the period. 86.85% of the stock is currently owned by hedge funds and other institutional investors.

nLIGHT Stock Down 4.4 %

Shares of LASR stock opened at $12.10 on Wednesday. The stock has a market cap of $548.21 million, a price-to-earnings ratio of -13.15 and a beta of 2.22. nLIGHT, Inc. has a fifty-two week low of $8.22 and a fifty-two week high of $20.83. The firm’s 50 day moving average price is $10.81 and its two-hundred day moving average price is $11.03.

nLIGHT (NASDAQ:LASR – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). nLIGHT had a negative return on equity of 13.16% and a negative net margin of 16.09%. The firm had revenue of $60.09 million for the quarter, compared to analyst estimates of $65.04 million. On average, equities analysts forecast that nLIGHT, Inc. will post -1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of nLIGHT in a report on Friday, November 4th. They issued a “buy” rating for the company. Raymond James reduced their price target on shares of nLIGHT from $40.00 to $30.00 in a research report on Sunday, November 6th. Finally, Needham & Company LLC reduced their price target on shares of nLIGHT from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 4th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.75.

nLIGHT Company Profile

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nLIGHT, Inc develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. It operates through the following segments: Laser Products and Advanced Development. The Laser Products segment includes products such as fiber lasers, diodes, complete laser systems and components.