Proficio Capital Partners LLC Takes Position in nLIGHT, Inc. (NASDAQ:LASR)

Proficio Capital Partners LLC acquired a new stake in nLIGHT, Inc. (NASDAQ:LASR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 22,627 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds also recently made changes to their positions in LASR. R Squared Ltd acquired a new position in shares of nLIGHT in the 4th quarter valued at $33,000. Point72 DIFC Ltd increased its position in shares of nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after purchasing an additional 3,913 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of nLIGHT during the 3rd quarter worth about $50,000. Quantbot Technologies LP increased its position in shares of nLIGHT by 25.5% during the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after purchasing an additional 2,052 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of nLIGHT during the 4th quarter worth about $115,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

nLIGHT Trading Down 1.9 %

LASR opened at $8.89 on Wednesday. The stock has a market capitalization of $435.89 million, a PE ratio of -8.63 and a beta of 2.29. nLIGHT, Inc. has a 1-year low of $7.94 and a 1-year high of $14.73. The firm has a 50-day moving average price of $10.51 and a two-hundred day moving average price of $10.87.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The company had revenue of $47.38 million during 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%. On average, research analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current year.

Insider Buying and Selling at nLIGHT

In other news, CEO Scott H. Keeney sold 53,511 shares of the firm’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 transaction, the chief executive officer now owns 1,267,927 shares of the company’s stock, valued at approximately $10,358,963.59. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 83,024 shares of company stock worth $747,784. 6.10% of the stock is currently owned by corporate 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.