Senvest Management LLC raised its position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 114.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,481,677 shares of the company's stock after acquiring an additional 1,322,637 shares during the period. nLIGHT makes up approximately 0.8% of Senvest Management LLC's investment portfolio, making the stock its 28th largest position. Senvest Management LLC owned about 5.12% of nLIGHT worth $26,033,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its stake 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 period. R Squared Ltd acquired a new stake in shares of nLIGHT in the 4th quarter valued at $33,000. Russell Investments Group Ltd. raised its holdings in shares of 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 buying an additional 3,596 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of nLIGHT during the 4th quarter worth $102,000. Finally, Moody National Bank Trust Division acquired a new stake in nLIGHT in the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 83.88% of the company's stock.
Insider Activity at nLIGHT
In related news, CEO Scott H. Keeney sold 53,511 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the transaction, the chief executive officer now owns 1,267,927 shares of the company's stock, valued at approximately $10,358,963.59. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by insiders.
nLIGHT Price Performance
Shares of NASDAQ:LASR traded up $0.08 during mid-day trading on Friday, hitting $7.20. The company had a trading volume of 313,825 shares, compared to its average volume of 325,175. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The firm has a fifty day moving average price of $8.58 and a 200 day moving average price of $10.24. The company has a market capitalization of $353.02 million, a PE ratio of -6.99 and a beta of 2.24.
nLIGHT (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The company had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. Research analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on LASR shares. Needham & Company LLC dropped their price target on shares of nLIGHT from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price target on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th.
Read Our Latest Stock Analysis on LASR
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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