Cubist Systematic Strategies LLC Has $499,000 Stock Position in nLIGHT, Inc. (NASDAQ:LASR)

Cubist Systematic Strategies LLC decreased its position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 70.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,523 shares of the company's stock after selling 113,383 shares during the period. Cubist Systematic Strategies LLC owned 0.10% of nLIGHT worth $499,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management raised its holdings in nLIGHT by 47.4% during the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after buying an additional 935 shares in the last quarter. R Squared Ltd bought a new position in nLIGHT during the fourth quarter valued at about $33,000. Russell Investments Group Ltd. raised its holdings in nLIGHT by 3,951.6% during the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock valued at $39,000 after buying an additional 3,596 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in nLIGHT during the fourth quarter valued at about $102,000. Finally, Quantbot Technologies LP raised its holdings in nLIGHT by 17.6% during the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after buying an additional 1,772 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Separately, Craig Hallum upgraded nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nLIGHT has an average rating of "Buy" and an average target price of $14.90.

nLIGHT Stock Performance

Shares of nLIGHT stock traded up $0.16 during trading on Thursday, reaching $13.61. The company's stock had a trading volume of 82,964 shares, compared to its average volume of 350,095. The business's fifty day moving average price is $8.71 and its 200-day moving average price is $9.99. The firm has a market cap of $672.62 million, a price-to-earnings ratio of -13.20 and a beta of 2.02. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73.

nLIGHT (NASDAQ:LASR - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The business had revenue of $51.67 million for the quarter, compared to the consensus estimate of $47.77 million. During the same period last year, the business earned ($0.17) earnings per share. The firm's revenue for the quarter was up 16.2% compared to the same quarter last year. Sell-side analysts anticipate that nLIGHT, Inc. will post -1.1 EPS for the current year.

About nLIGHT

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.