Two Sigma Investments LP Acquires 35,260 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Two Sigma Investments LP grew its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,559 shares of the company's stock after purchasing an additional 35,260 shares during the period. Two Sigma Investments LP owned approximately 0.26% of nLIGHT worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Polar Capital Holdings Plc acquired a new stake in shares of nLIGHT in the fourth quarter worth $2,259,000. ProShare Advisors LLC boosted its position in shares of nLIGHT by 46.9% in the fourth quarter. ProShare Advisors LLC now owns 19,112 shares of the company's stock valued at $200,000 after acquiring an additional 6,098 shares during the period. Needham Investment Management LLC raised its stake in nLIGHT by 13.4% during the 4th quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock valued at $27,821,000 after purchasing an additional 314,375 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in nLIGHT by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock valued at $277,000 after purchasing an additional 1,140 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in nLIGHT in the 4th quarter worth $444,000. Institutional investors and hedge funds own 83.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Craig Hallum upgraded nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a research note on Friday, May 9th. Needham & Company LLC boosted their price target on shares of nLIGHT from $14.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $15.70.

Insider Activity

In other news, CEO Scott H. Keeney sold 40,680 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $16.07, for a total transaction of $653,727.60. Following the sale, the chief executive officer now directly owns 1,281,540 shares of the company's stock, valued at $20,594,347.80. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 116,853 shares of company stock worth $1,818,727. Insiders own 4.70% of the company's stock.

nLIGHT Stock Performance

Shares of NASDAQ LASR traded down $0.22 during midday trading on Friday, reaching $17.60. 1,017,525 shares of the company traded hands, compared to its average volume of 391,073. nLIGHT, Inc. has a 12 month low of $6.20 and a 12 month high of $18.78. The stock's 50-day simple moving average is $10.26 and its 200-day simple moving average is $10.29. The firm has a market cap of $870.13 million, a PE ratio of -17.09 and a beta of 2.02.

nLIGHT (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $51.67 million during the quarter, compared to the consensus estimate of $47.77 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The firm's quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. On average, equities research analysts expect that nLIGHT, Inc. will post -1.1 EPS for the current year.

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.