nLIGHT, Inc. (NASDAQ:LASR) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in shares of nLIGHT, Inc. (NASDAQ:LASR) by 10.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,654 shares of the company’s stock after selling 1,677 shares during the quarter. Voya Investment Management LLC’s holdings in nLIGHT were worth $154,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its holdings in nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock worth $30,000 after acquiring an additional 935 shares in the last quarter. R Squared Ltd bought a new position in shares of nLIGHT in the 4th quarter worth about $33,000. Russell Investments Group Ltd. lifted its position in shares of nLIGHT by 3,951.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock worth $39,000 after buying an additional 3,596 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of nLIGHT in the 4th quarter worth about $102,000. Finally, Moody National Bank Trust Division bought a new position in shares of nLIGHT in the 4th quarter worth about $115,000. 83.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of nLIGHT stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at $10,358,963.59. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LASR shares. Needham & Company LLC reduced their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Craig Hallum upgraded shares of nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, May 9th. Finally, Stifel Nicolaus reduced their price target on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $14.90.

nLIGHT Stock Down 3.2%

Shares of NASDAQ:LASR opened at $12.84 on Thursday. The company has a market cap of $634.80 million, a PE ratio of -12.47 and a beta of 2.02. The company’s 50-day moving average price is $8.30 and its 200 day moving average price is $9.98. nLIGHT, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $14.73.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.13. The firm had revenue of $51.67 million for the quarter, compared to the consensus estimate of $47.77 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. nLIGHT’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. As a group, equities analysts anticipate that nLIGHT, Inc. will post -1.1 EPS for the current year.

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.