Great West Life Assurance Co. Can Sells 878 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Great West Life Assurance Co. Can lessened its position in shares of nLIGHT, Inc. (NASDAQ:LASR) by 34.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,670 shares of the company’s stock after selling 878 shares during the period. Great West Life Assurance Co. Can’s holdings in nLIGHT were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LASR. Marshall Wace LLP bought a new position in nLIGHT during the first quarter worth $379,000. BlackRock Inc. increased its stake in nLIGHT by 2.9% in the first quarter. BlackRock Inc. now owns 2,513,073 shares of the company’s stock valued at $81,424,000 after purchasing an additional 70,338 shares in the last quarter. New York State Common Retirement Fund increased its stake in nLIGHT by 49.4% in the first quarter. New York State Common Retirement Fund now owns 50,490 shares of the company’s stock valued at $1,636,000 after purchasing an additional 16,690 shares in the last quarter. Acadian Asset Management LLC bought a new stake in nLIGHT in the first quarter valued at $46,000. Finally, JPMorgan Chase & Co. increased its stake in nLIGHT by 3.3% in the first quarter. JPMorgan Chase & Co. now owns 3,459,773 shares of the company’s stock valued at $112,097,000 after purchasing an additional 110,990 shares in the last quarter. 88.93% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Ran Bareket sold 16,288 shares of nLIGHT stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $24.54, for a total transaction of $399,707.52. Following the completion of the transaction, the chief financial officer now directly owns 181,228 shares in the company, valued at $4,447,335.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is owned by company insiders.

Several research firms have weighed in on LASR. TheStreet raised shares of nLIGHT from a “d+” rating to a “c-” rating in a research note on Tuesday, July 13th. Needham & Company LLC decreased their price target on shares of nLIGHT from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, August 6th. Stifel Nicolaus began coverage on shares of nLIGHT in a research note on Monday, October 4th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Zacks Investment Research downgraded shares of nLIGHT from a “hold” rating to a “sell” rating in a research note on Saturday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $43.33.

Shares of NASDAQ LASR opened at $26.05 on Thursday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -51.08 and a beta of 2.41. The company has a 50-day moving average price of $27.31 and a 200-day moving average price of $29.65. nLIGHT, Inc. has a 1 year low of $20.84 and a 1 year high of $46.45.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The business had revenue of $69.11 million for the quarter, compared to analyst estimates of $66.43 million. nLIGHT had a negative net margin of 8.01% and a negative return on equity of 6.82%. On average, research analysts forecast that nLIGHT, Inc. will post -0.44 EPS for the current year.

nLIGHT Company Profile

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.

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Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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