nLIGHT, Inc. (NASDAQ:LASR) Position Trimmed by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 5.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 104,998 shares of the company’s stock after selling 6,284 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in nLIGHT were worth $1,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of nLIGHT by 12.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,357,028 shares of the company’s stock valued at $24,513,000 after acquiring an additional 269,000 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of nLIGHT by 1,251.2% in the 3rd quarter. Acadian Asset Management LLC now owns 250,373 shares of the company’s stock valued at $2,601,000 after acquiring an additional 231,844 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of nLIGHT by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,995,388 shares of the company’s stock valued at $51,952,000 after acquiring an additional 58,689 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of nLIGHT in the 3rd quarter valued at approximately $131,000. Finally, Versor Investments LP purchased a new stake in shares of nLIGHT in the 3rd quarter valued at approximately $132,000. 83.88% of the stock is currently owned by institutional investors.

nLIGHT Stock Performance

Shares of NASDAQ:LASR opened at $11.67 on Friday. nLIGHT, Inc. has a 52 week low of $8.13 and a 52 week high of $15.91. The company has a market cap of $551.87 million, a PE ratio of -12.97 and a beta of 2.43. The firm has a 50 day simple moving average of $12.98 and a 200 day simple moving average of $12.14.

nLIGHT (NASDAQ:LASR) last released its earnings results on Thursday, February 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. nLIGHT had a negative net margin of 19.85% and a negative return on equity of 15.03%. The company had revenue of $51.89 million during the quarter, compared to the consensus estimate of $48.08 million. On average, equities analysts predict that nLIGHT, Inc. will post -0.93 earnings per share for the current year.

Insiders Place Their Bets

In other nLIGHT news, CFO Joseph John Corso sold 14,105 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $12.26, for a total value of $172,927.30. Following the completion of the sale, the chief financial officer now owns 146,601 shares in the company, valued at approximately $1,797,328.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.60% 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.