Fisher Asset Management LLC Sells 28,678 Shares of nLight $LASR

Fisher Asset Management LLC cut its position in shares of nLight (NASDAQ:LASR) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,512 shares of the company’s stock after selling 28,678 shares during the quarter. Fisher Asset Management LLC owned approximately 0.18% of nLight worth $2,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of nLight by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares in the last quarter. Jane Street Group LLC lifted its holdings in nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after acquiring an additional 66,518 shares during the period. Nisa Investment Advisors LLC boosted its position in nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after purchasing an additional 1,700 shares during the last quarter. Fox Run Management L.L.C. bought a new position in nLight in the 2nd quarter valued at $731,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of nLight by 100.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,049 shares of the company’s stock valued at $2,756,000 after purchasing an additional 70,236 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Trading Down 6.7%

Shares of LASR stock opened at $62.56 on Friday. The firm’s 50 day moving average is $48.42 and its 200 day moving average is $37.54. The stock has a market capitalization of $3.49 billion, a P/E ratio of -133.11 and a beta of 2.27. nLight has a 12 month low of $6.20 and a 12 month high of $69.52.

nLight (NASDAQ:LASR) last issued its earnings results on Thursday, February 26th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $81.19 million for the quarter, compared to analysts’ expectations of $76.71 million. nLight had a negative net margin of 8.98% and a negative return on equity of 9.28%. The business’s revenue for the quarter was up 71.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) EPS. On average, equities analysts predict that nLight will post -1.1 EPS for the current year.

Analyst Ratings Changes

LASR has been the topic of a number of research analyst reports. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Needham & Company LLC boosted their target price on shares of nLight from $48.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Roth Mkm raised their price target on shares of nLight from $44.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Thursday, January 22nd. Finally, Robert W. Baird assumed coverage on nLight in a report on Wednesday. They set an “outperform” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

Insiders Place Their Bets

In related news, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the sale, the chief financial officer owned 196,224 shares of the company’s stock, valued at approximately $7,126,855.68. This represents a 25.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott H. Keeney sold 31,748 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the transaction, the chief executive officer owned 2,285,020 shares of the company’s stock, valued at approximately $85,711,100.20. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.70% 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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.