Redwood Investments LLC Buys 1,718 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Redwood Investments LLC raised its stake in nLIGHT, Inc. (NASDAQ:LASRGet Rating) by 0.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 450,046 shares of the company’s stock after purchasing an additional 1,718 shares during the quarter. Redwood Investments LLC’s holdings in nLIGHT were worth $7,804,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Advisor Group Holdings Inc. increased its holdings in shares of nLIGHT by 67.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,762 shares of the company’s stock worth $42,000 after buying an additional 708 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of nLIGHT by 23.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock worth $224,000 after buying an additional 1,748 shares during the last quarter. Ranger Investment Management L.P. increased its holdings in shares of nLIGHT by 0.3% in the 4th quarter. Ranger Investment Management L.P. now owns 913,643 shares of the company’s stock worth $21,882,000 after buying an additional 2,292 shares during the last quarter. Northern Trust Corp increased its holdings in shares of nLIGHT by 1.2% in the 4th quarter. Northern Trust Corp now owns 479,135 shares of the company’s stock worth $11,475,000 after buying an additional 5,491 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of nLIGHT by 6.6% in the 4th quarter. Raymond James & Associates now owns 111,533 shares of the company’s stock worth $2,671,000 after buying an additional 6,928 shares during the last quarter. 80.71% of the stock is currently owned by hedge funds and other institutional investors.

Separately, DA Davidson reduced their target price on shares of nLIGHT from $38.00 to $30.00 in a report on Friday, May 6th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, nLIGHT presently has an average rating of “Buy” and a consensus target price of $29.40.

LASR stock opened at $10.22 on Friday. The firm has a market cap of $455.19 million, a P/E ratio of -13.63 and a beta of 2.37. The firm’s fifty day moving average is $12.07 and its 200 day moving average is $16.68. nLIGHT, Inc. has a 52 week low of $10.01 and a 52 week high of $36.95.

nLIGHT (NASDAQ:LASRGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $64.46 million during the quarter, compared to analysts’ expectations of $63.77 million. nLIGHT had a negative net margin of 11.76% and a negative return on equity of 9.81%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) EPS. As a group, equities analysts predict that nLIGHT, Inc. will post -0.65 earnings per share for the current fiscal year.

About nLIGHT (Get Rating)

nLIGHT, Inc designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications.

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Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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