AlphaQuest LLC Sells 58,563 Shares of nLIGHT, Inc. (NASDAQ:LASR)

AlphaQuest LLC cut its position in nLIGHT, Inc. (NASDAQ:LASR) by 81.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,416 shares of the company’s stock after selling 58,563 shares during the period. AlphaQuest LLC’s holdings in nLIGHT were worth $141,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LASR. Harvey Partners LLC grew its holdings in shares of nLIGHT by 56.5% during the third quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock valued at $18,547,000 after buying an additional 626,500 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of nLIGHT during the fourth quarter valued at approximately $1,976,000. Stephens Investment Management Group LLC grew its holdings in shares of nLIGHT by 20.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company’s stock valued at $9,932,000 after buying an additional 162,903 shares during the last quarter. Needham Investment Management LLC grew its holdings in shares of nLIGHT by 7.1% during the third quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock valued at $24,990,000 after buying an additional 155,000 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in shares of nLIGHT during the third quarter valued at approximately $1,342,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Stock Up 3.0 %

Shares of nLIGHT stock opened at $9.20 on Tuesday. The company has a market cap of $451.09 million, a price-to-earnings ratio of -8.93 and a beta of 2.29. The company’s 50 day moving average is $10.36 and its 200 day moving average is $10.79. nLIGHT, Inc. has a twelve month low of $7.94 and a twelve month high of $14.73.

nLIGHT (NASDAQ:LASR) 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). The company had revenue of $47.38 million for 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%. Sell-side analysts expect that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 68,024 shares of company stock worth $579,934. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC cut their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a 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 report on Wednesday, January 15th.

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.