Millennium Management LLC Decreases Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Millennium Management LLC reduced its holdings in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 200,083 shares of the company's stock after selling 466,191 shares during the quarter. Millennium Management LLC owned about 0.41% of nLIGHT worth $2,099,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LASR. Picton Mahoney Asset Management boosted its holdings in shares of nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock worth $30,000 after buying an additional 935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in nLIGHT by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock worth $277,000 after acquiring an additional 1,140 shares in the last quarter. XTX Topco Ltd grew its holdings in nLIGHT by 7.2% in the fourth quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock worth $257,000 after purchasing an additional 1,641 shares during the period. Swiss National Bank grew its holdings in nLIGHT by 1.9% in the fourth quarter. Swiss National Bank now owns 90,000 shares of the company's stock worth $944,000 after purchasing an additional 1,700 shares during the period. Finally, Quantbot Technologies LP increased its stake in nLIGHT by 17.6% in the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after purchasing an additional 1,772 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of research analyst reports. Craig Hallum raised shares of nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price objective on the stock in a research report on Friday, May 9th. Needham & Company LLC increased their price target on nLIGHT from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $15.70.

nLIGHT Price Performance

Shares of LASR stock traded up $0.77 during trading hours on Tuesday, reaching $16.36. The company had a trading volume of 1,052,144 shares, compared to its average volume of 380,082. The company has a market cap of $808.82 million, a price-to-earnings ratio of -15.88 and a beta of 2.02. nLIGHT, Inc. has a 12 month low of $6.20 and a 12 month high of $16.37. The business has a fifty day simple moving average of $9.71 and a 200-day simple moving average of $10.15.

nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $47.77 million. During the same period last year, the business earned ($0.17) EPS. The business's revenue was up 16.2% on a year-over-year basis. On average, equities research analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 75,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total value of $1,149,750.00. Following the completion of the sale, the chief executive officer now owns 1,342,927 shares in the company, valued at approximately $20,587,070.91. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.70% of the stock is owned by insiders.

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.