Squarepoint Ops LLC decreased its position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 44.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,325 shares of the company's stock after selling 32,984 shares during the period. Squarepoint Ops LLC owned about 0.09% of nLIGHT worth $433,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in nLIGHT by 19.4% during the fourth quarter. SG Americas Securities LLC now owns 20,022 shares of the company's stock worth $210,000 after purchasing an additional 3,250 shares during the period. Stephens Investment Management Group LLC grew its holdings in shares of nLIGHT by 20.8% in the fourth 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 in the last quarter. Rice Hall James & Associates LLC increased its stake in nLIGHT by 21.5% during the 4th quarter. Rice Hall James & Associates LLC now owns 263,055 shares of the company's stock worth $2,759,000 after buying an additional 46,596 shares during the period. Proficio Capital Partners LLC purchased a new stake in nLIGHT during the 4th quarter worth approximately $237,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in nLIGHT by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,684 shares of the company's stock worth $4,077,000 after buying an additional 2,900 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.
nLIGHT Stock Down 1.2%
NASDAQ LASR traded down $0.22 on Friday, hitting $17.60. 1,018,525 shares of the stock were exchanged, compared to its average volume of 391,073. nLIGHT, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $18.78. The company has a 50-day moving average price of $10.26 and a 200-day moving average price of $10.29. The company 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 issued its earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates 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 company's revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, equities research analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Scott H. Keeney sold 40,680 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $16.07, for a total value of $653,727.60. Following the transaction, the chief executive officer now directly owns 1,281,540 shares of the company's stock, valued at $20,594,347.80. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 116,853 shares of company stock worth $1,818,727 over the last 90 days. 4.70% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts have commented on LASR shares. Needham & Company LLC boosted their price target on shares of nLIGHT from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Craig Hallum upgraded 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $15.70.
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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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