ArrowMark Colorado Holdings LLC Acquires 73,988 Shares of nLIGHT, Inc. (NASDAQ:LASR)

ArrowMark Colorado Holdings LLC grew its position in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,988 shares of the company's stock after buying an additional 73,988 shares during the period. ArrowMark Colorado Holdings LLC owned 0.90% of nLIGHT worth $4,553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its stake in shares of nLIGHT by 47.4% in the fourth 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 purchased a new stake in shares of nLIGHT in the 4th quarter valued at about $33,000. Russell Investments Group Ltd. increased its holdings 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 valued at $39,000 after acquiring an additional 3,596 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of nLIGHT during the fourth quarter worth about $102,000. Finally, Moody National Bank Trust Division purchased a new position in shares of nLIGHT in the 4th quarter valued at approximately $115,000. Hedge funds and other institutional investors own 83.88% of the company's stock.

Insider Activity

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the firm's stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LASR. Needham & Company LLC lowered their price target on shares of nLIGHT from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Stifel Nicolaus decreased their target price 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.

nLIGHT Stock Performance

Shares of nLIGHT stock traded down $0.28 during trading hours on Tuesday, reaching $8.07. The company's stock had a trading volume of 254,539 shares, compared to its average volume of 328,238. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The company's 50 day simple moving average is $8.02 and its 200 day simple moving average is $9.96. The stock has a market cap of $398.97 million, a P/E ratio of -7.83 and a beta of 2.02.

nLIGHT (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The company had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. On average, sell-side analysts predict that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal 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.