Cinctive Capital Management LP Purchases Shares of 125,476 nLIGHT, Inc. (NASDAQ:LASR)

Cinctive Capital Management LP acquired a new stake in nLIGHT, Inc. (NASDAQ:LASR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 125,476 shares of the company’s stock, valued at approximately $1,316,000.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its holdings in shares of 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 buying an additional 935 shares during the period. R Squared Ltd bought a new stake in shares of nLIGHT during the fourth quarter worth approximately $33,000. Point72 DIFC Ltd boosted its holdings in shares of nLIGHT by 1,637.2% during the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after acquiring an additional 3,913 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of nLIGHT in the third quarter valued at approximately $50,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of nLIGHT during the fourth quarter worth approximately $102,000. 83.88% of the stock is owned by institutional investors.

nLIGHT Price Performance

nLIGHT stock opened at $7.01 on Friday. The firm has a market cap of $343.71 million, a PE ratio of -6.81 and a beta of 2.24. The stock’s fifty day moving average price is $9.63 and its two-hundred day moving average price is $10.55. nLIGHT, Inc. has a one year low of $7.01 and a one year high of $14.73.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The company had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. Sell-side analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LASR. Stifel Nicolaus decreased their price objective on nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC decreased their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st.

Insider Transactions at nLIGHT

In other news, CEO Scott H. Keeney sold 53,511 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the transaction, the chief executive officer now owns 1,267,927 shares of the company’s stock, valued at approximately $10,358,963.59. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.

nLIGHT Company 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.