Acadian Asset Management LLC Reduces Stake in nLIGHT, Inc. (NASDAQ:LASR)

Acadian Asset Management LLC reduced its stake in shares of nLIGHT, Inc. (NASDAQ:LASR) by 38.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,494 shares of the company’s stock after selling 24,360 shares during the period. Acadian Asset Management LLC owned about 0.08% of nLIGHT worth $420,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. ProShare Advisors LLC lifted its stake in nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after purchasing an additional 1,503 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of nLIGHT by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock valued at $172,000 after buying an additional 1,886 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of nLIGHT by 9.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock valued at $181,000 after buying an additional 1,220 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of nLIGHT by 484.2% during the 1st quarter. EntryPoint Capital LLC now owns 20,703 shares of the company’s stock worth $269,000 after acquiring an additional 17,159 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of nLIGHT by 79.1% during the 1st quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company’s stock worth $284,000 after acquiring an additional 9,635 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Stock Performance

Shares of NASDAQ LASR opened at $10.59 on Thursday. nLIGHT, Inc. has a fifty-two week low of $8.13 and a fifty-two week high of $15.00. The stock has a market cap of $503.71 million, a PE ratio of -10.38 and a beta of 2.36. The stock has a fifty day moving average of $11.47 and a 200-day moving average of $11.95.

nLIGHT (NASDAQ:LASR) last posted its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. The business had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. During the same quarter in the previous year, the firm earned ($0.18) EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts predict that nLIGHT, Inc. will post -0.96 EPS for the current year.

Insider Activity at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on LASR shares. Benchmark reaffirmed a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of nLIGHT in a research note on Monday, August 5th.

nLIGHT Profile

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.