Stifel Financial Corp Increases Position in nLIGHT, Inc. (NASDAQ:LASR)

Stifel Financial Corp grew its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,648 shares of the company’s stock after purchasing an additional 15,904 shares during the quarter. Stifel Financial Corp owned about 0.33% of nLIGHT worth $1,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management boosted its stake in nLIGHT by 47.4% during the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock worth $30,000 after buying an additional 935 shares during the last quarter. R Squared Ltd purchased a new stake in shares of nLIGHT in the fourth quarter valued at about $33,000. Russell Investments Group Ltd. increased its position in nLIGHT by 3,951.6% during the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock worth $39,000 after purchasing an additional 3,596 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in nLIGHT during the fourth quarter worth about $102,000. Finally, Moody National Bank Trust Division acquired a new position in nLIGHT in the 4th quarter valued at about $115,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling at nLIGHT

In other news, CEO Scott H. Keeney sold 53,511 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the completion of the transaction, the chief executive officer now owns 1,267,927 shares of the company’s stock, valued at approximately $10,358,963.59. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

nLIGHT Stock Performance

nLIGHT stock opened at $8.07 on Wednesday. The company has a market capitalization of $398.97 million, a PE ratio of -7.83 and a beta of 2.02. nLIGHT, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $14.73. The firm has a 50 day moving average price of $8.02 and a 200 day moving average price of $9.96.

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

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.