Allspring Global Investments Holdings LLC Sells 2,686 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Allspring Global Investments Holdings LLC decreased its stake in nLIGHT, Inc. (NASDAQ:LASR) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,464 shares of the company’s stock after selling 2,686 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of nLIGHT worth $1,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in nLIGHT by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 60,500 shares of the company’s stock valued at $817,000 after purchasing an additional 4,500 shares during the last quarter. SG Americas Securities LLC increased its position in nLIGHT by 25.9% in the 4th quarter. SG Americas Securities LLC now owns 24,799 shares of the company’s stock valued at $335,000 after acquiring an additional 5,096 shares during the period. Charles Schwab Investment Management Inc. increased its position in nLIGHT by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,720 shares of the company’s stock valued at $4,829,000 after acquiring an additional 7,660 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in nLIGHT by 18.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,088 shares of the company’s stock valued at $708,000 after acquiring an additional 10,485 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new position in nLIGHT in the 4th quarter valued at approximately $150,000. Institutional investors own 83.88% of the company’s stock.

nLIGHT Trading Down 0.3 %

Shares of LASR traded down $0.03 during trading hours on Tuesday, hitting $10.93. 32,730 shares of the stock were exchanged, compared to its average volume of 186,895. nLIGHT, Inc. has a fifty-two week low of $8.13 and a fifty-two week high of $15.72. The business has a 50-day moving average of $12.26 and a 200-day moving average of $12.71.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.01. nLIGHT had a negative net margin of 23.81% and a negative return on equity of 17.86%. The company had revenue of $44.53 million during the quarter, compared to analysts’ expectations of $44.35 million. On average, sell-side analysts predict that nLIGHT, Inc. will post -0.89 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on LASR. Benchmark restated a “speculative buy” rating and issued a $17.00 price target on shares of nLIGHT in a research report on Friday, May 3rd. Needham & Company LLC decreased their price target on shares of nLIGHT from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 3rd.

Insider Transactions at nLIGHT

In other nLIGHT news, Director Geoffrey Moore sold 38,796 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $13.14, for a total value of $509,779.44. Following the completion of the sale, the director now directly owns 71,186 shares in the company, valued at $935,384.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $13.29, for a total value of $33,225.00. Following the completion of the sale, the chief financial officer now directly owns 191,578 shares in the company, valued at $2,546,071.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey Moore sold 38,796 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $13.14, for a total transaction of $509,779.44. Following the completion of the sale, the director now owns 71,186 shares of the company’s stock, valued at $935,384.04. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

nLIGHT Company 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.