Point72 Asset Management L.P. Cuts Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Point72 Asset Management L.P. trimmed its stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,400 shares of the company's stock after selling 33,369 shares during the quarter. Point72 Asset Management L.P. owned 0.05% of nLIGHT worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LASR. Senvest Management LLC grew its stake in nLIGHT by 114.1% during the 4th quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock worth $26,033,000 after purchasing an additional 1,322,637 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of nLIGHT during the 4th quarter worth about $5,270,000. Needham Investment Management LLC boosted its position in shares of nLIGHT by 13.4% during the 4th quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock worth $27,821,000 after acquiring an additional 314,375 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in shares of nLIGHT during the 4th quarter worth about $2,259,000. Finally, Raymond James Financial Inc. acquired a new position in shares of nLIGHT during the 4th quarter worth about $1,976,000. 83.88% of the stock is owned by institutional investors and hedge funds.

nLIGHT Trading Up 0.5%

Shares of nLIGHT stock traded up $0.08 on Thursday, hitting $15.71. The stock had a trading volume of 326,220 shares, compared to its average volume of 366,857. The company's 50 day moving average price is $9.30 and its 200 day moving average price is $10.06. The stock has a market cap of $776.69 million, a price-to-earnings ratio of -15.24 and a beta of 2.02. nLIGHT, Inc. has a 52-week low of $6.20 and a 52-week high of $16.20.

nLIGHT (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) 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 return on equity of 19.53% and a negative net margin of 24.16%. The firm's revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. Analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LASR has been the subject of several research reports. Craig Hallum raised nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 target price for the company in a report on Friday, May 9th. Needham & Company LLC boosted their target price on nLIGHT from $14.00 to $18.00 and gave the company a "buy" rating in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.70.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the company'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 sale, the chief executive officer now directly owns 1,267,927 shares of the company's stock, valued at $10,358,963.59. This represents a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 57,184 shares of company stock valued at $475,534 in the last ninety days. Insiders own 4.70% of the company's stock.

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.