ExodusPoint Capital Management LP cut its position in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 88.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,504 shares of the company's stock after selling 112,674 shares during the period. ExodusPoint Capital Management LP's holdings in nLIGHT were worth $152,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LASR. Royce & Associates LP raised its stake in nLIGHT by 5.3% during the 4th quarter. Royce & Associates LP now owns 2,877,759 shares of the company's stock worth $30,188,000 after buying an additional 144,283 shares during the period. Geode Capital Management LLC raised its position in shares of nLIGHT by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,103,920 shares of the company's stock worth $11,804,000 after purchasing an additional 9,673 shares during the period. State Street Corp lifted its holdings in shares of nLIGHT by 1.1% during the 3rd quarter. State Street Corp now owns 1,021,736 shares of the company's stock valued at $10,922,000 after purchasing an additional 11,132 shares in the last quarter. Stephens Investment Management Group LLC grew its position in shares of nLIGHT by 20.8% in the 4th 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 during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in nLIGHT during the 4th quarter worth approximately $5,270,000. 83.88% of the stock is owned by institutional investors.
nLIGHT Price Performance
nLIGHT stock opened at $7.33 on Tuesday. The company has a market cap of $359.40 million, a price-to-earnings ratio of -7.12 and a beta of 2.24. The firm has a 50-day moving average of $8.88 and a 200-day moving average of $10.33. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73.
nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The company had revenue of $47.38 million for the quarter, compared to analyst estimates of $46.62 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. As a group, sell-side analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on LASR shares. Stifel Nicolaus reduced their price target on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Needham & Company LLC dropped their price target on nLIGHT from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st.
Check Out Our Latest Analysis on LASR
Insiders Place Their Bets
In other news, CEO Scott H. Keeney sold 53,511 shares of the company'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 sale, the chief executive officer now directly owns 1,267,927 shares of the company's stock, valued at approximately $10,358,963.59. This represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.10% of the company's stock.
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.
Further Reading
Want to see what other hedge funds are holding LASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nLIGHT, Inc. (NASDAQ:LASR - Free Report).
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