22,627 Shares in nLIGHT, Inc. (NASDAQ:LASR) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in nLIGHT, Inc. (NASDAQ:LASR) during the 4th quarter, Holdings Channel reports. The fund purchased 22,627 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also made changes to their positions in LASR. R Squared Ltd purchased a new stake in nLIGHT in the 4th quarter valued at about $33,000. Point72 DIFC Ltd boosted its holdings in nLIGHT by 1,637.2% in 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in nLIGHT during the 3rd quarter worth $50,000. Quantbot Technologies LP boosted its holdings in nLIGHT by 25.5% in the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after purchasing an additional 2,052 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new stake in shares of nLIGHT in the fourth quarter worth $115,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LASR shares. Needham & Company LLC dropped 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 decreased their target price on nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

nLIGHT Price Performance

LASR stock opened at $8.45 on Thursday. The company has a 50 day moving average price of $10.05 and a 200 day moving average price of $10.67. The stock has a market capitalization of $414.31 million, a PE ratio of -8.20 and a beta of 2.29. nLIGHT, Inc. has a fifty-two week low of $7.94 and a fifty-two week high of $14.73.

nLIGHT (NASDAQ:LASR) last issued its 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). nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The firm had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. As a group, equities analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the sale, the chief executive officer now directly 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.

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.