nLIGHT, Inc. (NASDAQ:LASR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 64.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,147,005 shares of the company’s stock after selling 2,054,627 shares during the quarter. JPMorgan Chase & Co.’s holdings in nLIGHT were worth $12,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Point72 DIFC Ltd grew its holdings in shares of nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after purchasing an additional 3,913 shares during the period. nVerses Capital LLC lifted its position in nLIGHT by 500.0% in the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after buying an additional 3,500 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in nLIGHT during the third quarter worth about $50,000. Quantbot Technologies LP increased its position in shares of nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after acquiring an additional 2,052 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after acquiring an additional 9,690 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

Insider Buying and Selling

In other news, CFO Joseph John Corso sold 2,500 shares of nLIGHT stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the transaction, the chief financial officer now owns 155,129 shares in the company, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.20, for a total transaction of $168,000.00. Following the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at $15,095,147.20. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,019 shares of company stock valued at $860,565 in the last ninety days. Company insiders own 6.10% of the company’s stock.

nLIGHT Stock Performance

Shares of LASR opened at $11.14 on Friday. The company’s 50-day simple moving average is $11.00 and its 200-day simple moving average is $11.20. nLIGHT, Inc. has a 1 year low of $9.64 and a 1 year high of $14.75. The stock has a market capitalization of $539.50 million, a PE ratio of -10.82 and a beta of 2.19.

Wall Street Analyst Weigh In

LASR has been the subject of a number of research analyst reports. Needham & Company LLC increased their price objective on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald started coverage on nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target on the stock.

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.