Jacobs Levy Equity Management Inc. Acquires New Position in nLIGHT, Inc. (NASDAQ:LASR)

Jacobs Levy Equity Management Inc. bought a new position in nLIGHT, Inc. (NASDAQ:LASR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 42,320 shares of the company's stock, valued at approximately $444,000. Jacobs Levy Equity Management Inc. owned about 0.09% of nLIGHT as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Graham Capital Management L.P. purchased a new position in nLIGHT in the 4th quarter worth about $372,000. Deutsche Bank AG raised its position in nLIGHT by 65.2% in the 4th quarter. Deutsche Bank AG now owns 38,157 shares of the company's stock worth $400,000 after buying an additional 15,056 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in nLIGHT by 34.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 424,856 shares of the company's stock worth $4,457,000 after buying an additional 109,075 shares during the last quarter. Bank of America Corp DE raised its position in nLIGHT by 72.0% in the 4th quarter. Bank of America Corp DE now owns 209,644 shares of the company's stock worth $2,199,000 after buying an additional 87,788 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in nLIGHT by 65.3% in the 4th quarter. BNP Paribas Financial Markets now owns 61,688 shares of the company's stock worth $647,000 after buying an additional 24,367 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company's stock.

Analyst Upgrades and Downgrades

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

nLIGHT Stock Up 1.9%

Shares of nLIGHT stock traded up $0.27 during trading hours on Friday, reaching $14.49. 1,687,892 shares of the stock traded hands, compared to its average volume of 359,584. The company has a 50 day moving average price of $8.92 and a 200 day moving average price of $10.02. The firm has a market capitalization of $716.37 million, a price-to-earnings ratio of -14.07 and a beta of 2.02. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.82.

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

Insider Buying and Selling at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the transaction, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. The trade was a 4.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 57,184 shares of company stock worth $475,534 in the last three months. 4.70% of the stock is currently owned by company 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.