nLIGHT, Inc. (NASDAQ:LASR) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its stake in nLIGHT, Inc. (NASDAQ:LASR – Get Rating) by 26.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 178,728 shares of the company’s stock after acquiring an additional 37,120 shares during the quarter. Raymond James & Associates owned 0.40% of nLIGHT worth $1,689,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank acquired a new position in shares of nLIGHT in the 1st quarter worth approximately $123,000. Arizona State Retirement System lifted its holdings in nLIGHT by 12.4% during the 2nd quarter. Arizona State Retirement System now owns 12,015 shares of the company’s stock worth $123,000 after buying an additional 1,330 shares in the last quarter. M&T Bank Corp lifted its holdings in nLIGHT by 7.4% during the 2nd quarter. M&T Bank Corp now owns 12,111 shares of the company’s stock worth $124,000 after buying an additional 834 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in nLIGHT during the 2nd quarter worth approximately $126,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in nLIGHT by 233.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,711 shares of the company’s stock worth $130,000 after buying an additional 8,899 shares in the last quarter. 86.85% of the stock is currently owned by institutional investors and hedge funds.

nLIGHT Trading Down 4.4 %

Shares of NASDAQ:LASR opened at $12.10 on Wednesday. nLIGHT, Inc. has a 52 week low of $8.22 and a 52 week high of $20.83. The company’s 50 day moving average is $10.81 and its two-hundred day moving average is $11.03. The company has a market cap of $548.21 million, a PE ratio of -13.15 and a beta of 2.22.

nLIGHT (NASDAQ:LASR – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The company had revenue of $60.09 million during the quarter, compared to analysts’ expectations of $65.04 million. nLIGHT had a negative net margin of 16.09% and a negative return on equity of 13.16%. As a group, equities research analysts expect that nLIGHT, Inc. will post -1 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on LASR. Needham & Company LLC reduced their target price on shares of nLIGHT from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Raymond James reduced their target price on shares of nLIGHT from $40.00 to $30.00 in a report on Sunday, November 6th. Finally, Stifel Nicolaus assumed coverage on shares of nLIGHT in a report on Friday, November 4th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, nLIGHT currently has a consensus rating of “Buy” and a consensus price target of $20.75.

nLIGHT Profile

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nLIGHT, Inc develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. It operates through the following segments: Laser Products and Advanced Development. The Laser Products segment includes products such as fiber lasers, diodes, complete laser systems and components.