Trexquant Investment LP lowered its stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 39.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,241 shares of the company's stock after selling 90,182 shares during the period. Trexquant Investment LP owned approximately 0.29% of nLIGHT worth $1,450,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Segall Bryant & Hamill LLC purchased a new position in shares of nLIGHT in the 4th quarter worth $5,270,000. Raymond James Financial Inc. purchased a new stake in shares of nLIGHT during the 4th quarter worth about $1,976,000. Stephens Investment Management Group LLC increased its position in nLIGHT by 20.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company's stock worth $9,932,000 after purchasing an additional 162,903 shares in the last quarter. Royce & Associates LP raised its holdings in nLIGHT by 5.3% in the fourth quarter. Royce & Associates LP now owns 2,877,759 shares of the company's stock valued at $30,188,000 after buying an additional 144,283 shares during the period. Finally, Jane Street Group LLC lifted its position in nLIGHT by 98.2% during the third quarter. Jane Street Group LLC now owns 138,646 shares of the company's stock valued at $1,482,000 after buying an additional 68,682 shares in the last quarter. 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 nLIGHT stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total value of $437,184.87. Following the completion of the transaction, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on LASR. Stifel Nicolaus cut their target price on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. Needham & Company LLC cut their price objective on nLIGHT from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st.
Check Out Our Latest Stock Report on nLIGHT
nLIGHT Trading Up 0.3 %
LASR stock traded up $0.03 during trading on Tuesday, reaching $7.36. The stock had a trading volume of 37,171 shares, compared to its average volume of 322,766. The firm has a fifty day moving average price of $8.88 and a 200 day moving average price of $10.33. The company has a market capitalization of $360.62 million, a P/E ratio of -7.13 and a beta of 2.24. nLIGHT, Inc. has a 1-year low of $6.20 and a 1-year high of $14.73.
nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $47.38 million for the quarter, compared to analyst estimates of $46.62 million. Sell-side analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current year.
nLIGHT Company Profile
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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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