Wells Fargo & Company MN Grows Stake in nLIGHT, Inc. (NASDAQ:LASR)

Wells Fargo & Company MN grew its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,227 shares of the company’s stock after buying an additional 6,561 shares during the period. Wells Fargo & Company MN owned 0.06% of nLIGHT worth $328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC boosted its holdings in nLIGHT by 317.7% in the third quarter. Barclays PLC now owns 70,599 shares of the company’s stock valued at $755,000 after acquiring an additional 53,699 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of nLIGHT during the 4th quarter valued at about $115,000. SG Americas Securities LLC boosted its stake in shares of nLIGHT by 19.4% during the 4th quarter. SG Americas Securities LLC now owns 20,022 shares of the company’s stock valued at $210,000 after purchasing an additional 3,250 shares in the last quarter. R Squared Ltd purchased a new position in shares of nLIGHT during the fourth quarter valued at about $33,000. Finally, Stephens Investment Management Group LLC raised its stake in nLIGHT by 20.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company’s stock worth $9,932,000 after buying an additional 162,903 shares in the last quarter. Institutional investors own 83.88% of the company’s stock.

nLIGHT Price Performance

NASDAQ:LASR opened at $8.35 on Tuesday. The firm has a market capitalization of $412.82 million, a P/E ratio of -8.11 and a beta of 2.02. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The company’s 50-day simple moving average is $8.04 and its 200 day simple moving average is $9.97.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The company had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. On average, equities research analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LASR has been the topic of several research reports. Stifel Nicolaus cut their price objective on nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Needham & Company LLC dropped their price target on nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st.

Insider Transactions at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the transaction, the chief executive officer now owns 1,267,927 shares in the company, valued at $10,358,963.59. The trade was a 4.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.10% of the company’s stock.

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.