Short Interest in nLIGHT, Inc. (NASDAQ:LASR) Declines By 7.1%

nLIGHT, Inc. (NASDAQ:LASR – Get Rating) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,040,000 shares, a decline of 7.1% from the February 13th total of 1,120,000 shares. Based on an average daily trading volume, of 248,400 shares, the short-interest ratio is presently 4.2 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reduced their price target on shares of nLIGHT from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, February 24th.

nLIGHT Trading Down 2.7 %

Shares of LASR stock opened at $10.00 on Friday. The firm has a fifty day moving average price of $12.04 and a 200 day moving average price of $11.06. The company has a market cap of $456.90 million, a P/E ratio of -8.20 and a beta of 2.26. nLIGHT has a 12 month low of $8.22 and a 12 month high of $18.69.

nLIGHT (NASDAQ:LASR – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). nLIGHT had a negative net margin of 22.55% and a negative return on equity of 17.03%. The company had revenue of $56.68 million during the quarter, compared to analyst estimates of $56.67 million. On average, equities analysts forecast that nLIGHT will post -1.05 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Marathon Asset Management Ltd purchased a new position in nLIGHT in the fourth quarter valued at about $15,932,000. Neuberger Berman Group LLC acquired a new position in shares of nLIGHT in the 3rd quarter valued at $6,807,000. Vanguard Group Inc. boosted its holdings in shares of nLIGHT by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,337,527 shares of the company’s stock valued at $40,990,000 after purchasing an additional 297,883 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of nLIGHT in the 4th quarter valued at $2,920,000. Finally, Needham Investment Management LLC raised its stake in shares of nLIGHT by 64.6% in the 2nd quarter. Needham Investment Management LLC now owns 725,000 shares of the company’s stock valued at $7,410,000 after acquiring an additional 284,500 shares during the period. 86.85% of the stock is owned by hedge funds and other institutional investors.

nLIGHT Company 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.