Cinctive Capital Management LP Invests $1.32 Million in nLIGHT, Inc. (NASDAQ:LASR)

Cinctive Capital Management LP acquired a new stake in nLIGHT, Inc. (NASDAQ:LASR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 125,476 shares of the company's stock, valued at approximately $1,316,000. Cinctive Capital Management LP owned about 0.26% of nLIGHT as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management increased its stake in nLIGHT by 47.4% in the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after purchasing an additional 935 shares during the last quarter. R Squared Ltd purchased a new position in shares of nLIGHT in the 4th quarter valued at $33,000. Point72 DIFC Ltd raised its stake in nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company's stock worth $44,000 after acquiring an additional 3,913 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in nLIGHT in the third quarter valued at $50,000. Finally, KLP Kapitalforvaltning AS acquired a new position in nLIGHT in the fourth quarter valued at $102,000. Institutional investors and hedge funds own 83.88% of the company's stock.

nLIGHT Stock Performance

NASDAQ LASR traded up $1.19 during trading on Wednesday, reaching $7.63. The company's stock had a trading volume of 467,671 shares, compared to its average volume of 321,912. nLIGHT, Inc. has a twelve month low of $6.20 and a twelve month high of $14.73. The firm has a market cap of $374.11 million, a price-to-earnings ratio of -7.41 and a beta of 2.24. The business's fifty day moving average price is $9.11 and its 200-day moving average price is $10.40.

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nLIGHT (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.21). nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The company had revenue of $47.38 million for the quarter, compared to analysts' expectations of $46.62 million. As a group, sell-side analysts forecast that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Needham & Company LLC cut their target price on 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 nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th.

Insider Buying and Selling

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 completion of the sale, the chief executive officer now owns 1,267,927 shares in the company, valued at $10,358,963.59. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.10% of the company's stock.

nLIGHT 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.