Dorsey & Whitney Trust CO LLC Increases Stake in nLIGHT, Inc. (NASDAQ:LASR)

Dorsey & Whitney Trust CO LLC lifted its stake in nLIGHT, Inc. (NASDAQ:LASR) by 26.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,905 shares of the company’s stock after purchasing an additional 6,421 shares during the quarter. Dorsey & Whitney Trust CO LLC owned about 0.06% of nLIGHT worth $324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of nLIGHT in the 4th quarter valued at approximately $33,000. Point72 DIFC Ltd raised its position in shares of nLIGHT by 1,637.2% in the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock valued at $44,000 after purchasing an additional 3,913 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of nLIGHT in the 3rd quarter valued at approximately $50,000. Quantbot Technologies LP raised its position in shares of nLIGHT by 25.5% in the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after purchasing an additional 2,052 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new position in nLIGHT during the 4th quarter worth approximately $115,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC reduced their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Insider Transactions at nLIGHT

In other news, CEO Scott H. Keeney sold 12,013 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total transaction of $119,649.48. Following the sale, the chief executive officer now owns 1,340,146 shares of the company’s stock, valued at $13,347,854.16. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 83,024 shares of company stock valued at $747,784 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

nLIGHT Trading Down 2.3 %

LASR opened at $9.06 on Tuesday. The firm has a market capitalization of $444.22 million, a PE ratio of -8.80 and a beta of 2.29. nLIGHT, Inc. has a 12-month low of $7.94 and a 12-month high of $14.73. The firm has a 50 day moving average of $10.56 and a two-hundred day moving average of $10.90.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). The firm had revenue of $47.38 million for the quarter, compared to analyst estimates of $46.62 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. As a group, analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

About nLIGHT

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.