Jane Street Group LLC cut its stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 92.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,683 shares of the company's stock after selling 127,963 shares during the quarter. Jane Street Group LLC's holdings in nLIGHT were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp boosted its holdings in nLIGHT by 11.1% during the 4th quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock valued at $1,675,000 after acquiring an additional 15,904 shares during the period. Raymond James Financial Inc. purchased a new position in shares of nLIGHT in the 4th quarter valued at approximately $1,976,000. Stephens Investment Management Group LLC lifted its stake in shares of nLIGHT by 20.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company's stock valued at $9,932,000 after purchasing an additional 162,903 shares during the period. Franklin Resources Inc. lifted its stake in shares of nLIGHT by 145.0% in the 4th quarter. Franklin Resources Inc. now owns 64,295 shares of the company's stock valued at $674,000 after purchasing an additional 38,050 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in shares of nLIGHT by 21.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 263,055 shares of the company's stock valued at $2,759,000 after purchasing an additional 46,596 shares during the period. 83.88% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Scott H. Keeney sold 40,680 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $16.07, for a total value of $653,727.60. Following the completion of the transaction, the chief executive officer now owns 1,281,540 shares of the company's stock, valued at approximately $20,594,347.80. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 116,853 shares of company stock valued at $1,818,727. 4.70% of the stock is owned by company insiders.
nLIGHT Stock Performance
nLIGHT stock opened at $17.60 on Friday. The business's 50-day simple moving average is $10.45 and its two-hundred day simple moving average is $10.33. The company has a market cap of $870.13 million, a PE ratio of -17.09 and a beta of 2.27. nLIGHT, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.49.
nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.13. The business had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The company's revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Needham & Company LLC lifted their price objective on nLIGHT from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Craig Hallum raised nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price target for the company in a research note on Friday, May 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, nLIGHT presently has a consensus rating of "Buy" and an average price target of $15.70.
Read Our Latest Analysis on nLIGHT
About nLIGHT
(
Free Report)
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.
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