Point72 Asset Management L.P. Sells 33,369 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Point72 Asset Management L.P. decreased its position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,400 shares of the company's stock after selling 33,369 shares during the period. Point72 Asset Management L.P. owned 0.05% of nLIGHT worth $256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its position in 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 acquiring an additional 935 shares during the last quarter. R Squared Ltd acquired a new position in nLIGHT during the 4th quarter worth $33,000. Russell Investments Group Ltd. lifted its position in nLIGHT by 3,951.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock worth $39,000 after acquiring an additional 3,596 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of nLIGHT during the fourth quarter valued at about $102,000. Finally, Quantbot Technologies LP raised its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 57,184 shares of company stock worth $475,534. Corporate insiders own 4.70% of the company's stock.

nLIGHT Stock Performance

nLIGHT stock traded up $0.99 during trading hours on Tuesday, hitting $15.48. 1,298,978 shares of the stock were exchanged, compared to its average volume of 364,322. nLIGHT, Inc. has a 12 month low of $6.20 and a 12 month high of $15.71. The business's 50-day moving average is $9.03 and its two-hundred day moving average is $9.98. The stock has a market capitalization of $765.32 million, a P/E ratio of -15.03 and a beta of 2.02.

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