Sei Investments Co. Grows Position in nLIGHT, Inc. (NASDAQ:LASR)

Sei Investments Co. increased its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 44,691 shares of the company’s stock after buying an additional 1,861 shares during the quarter. Sei Investments Co. owned about 0.09% of nLIGHT worth $469,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. grew its position in nLIGHT by 11.1% during the fourth quarter. American Century Companies Inc. now owns 90,206 shares of the company’s stock valued at $946,000 after buying an additional 9,030 shares during the period. Quantbot Technologies LP boosted its stake in shares of nLIGHT by 17.6% during the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company’s stock worth $124,000 after acquiring an additional 1,772 shares during the last quarter. Royce & Associates LP boosted its stake in shares of nLIGHT by 5.3% during the 4th quarter. Royce & Associates LP now owns 2,877,759 shares of the company’s stock worth $30,188,000 after acquiring an additional 144,283 shares during the last quarter. Picton Mahoney Asset Management grew its position in shares of nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock valued at $30,000 after acquiring an additional 935 shares during the period. Finally, Swiss National Bank increased its stake in shares of nLIGHT by 1.9% in the 4th quarter. Swiss National Bank now owns 90,000 shares of the company’s stock worth $944,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Trading Up 18.5 %

Shares of LASR stock opened at $7.63 on Thursday. The business’s fifty day simple moving average is $9.11 and its 200-day simple moving average is $10.40. The company has a market cap of $374.11 million, a PE ratio of -7.41 and a beta of 2.24. nLIGHT, Inc. has a 12-month low of $6.20 and a 12-month high of $14.73.

nLIGHT (NASDAQ:LASR) last posted its quarterly 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). The company had revenue of $47.38 million during the quarter, compared to analysts’ expectations of $46.62 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. On average, equities analysts forecast that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

LASR has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Needham & Company LLC dropped their target price on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, January 21st.

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.