Proficio Capital Partners LLC Invests $237,000 in nLIGHT, Inc. (NASDAQ:LASR)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LASR. R Squared Ltd bought a new position in shares of nLIGHT during the 4th quarter valued at approximately $33,000. Point72 DIFC Ltd raised its stake in shares of nLIGHT by 1,637.2% in the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock valued at $44,000 after acquiring an additional 3,913 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of nLIGHT during the third quarter valued at approximately $50,000. Quantbot Technologies LP increased its stake in nLIGHT by 25.5% in the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after purchasing an additional 2,052 shares during the period. Finally, Moody National Bank Trust Division purchased a new stake in nLIGHT in the 4th quarter valued at about $115,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LASR. Needham & Company LLC lowered their price target 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 price objective 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.

Insider Activity

In related news, CEO Scott H. Keeney sold 53,511 shares of the company’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 sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

nLIGHT Stock Down 3.1 %

nLIGHT stock opened at $8.45 on Thursday. The company has a fifty day simple moving average of $10.05 and a 200-day simple moving average of $10.67. nLIGHT, Inc. has a 52-week low of $7.94 and a 52-week high of $14.73. The firm has a market capitalization of $414.31 million, a price-to-earnings ratio of -8.20 and a beta of 2.29.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings results 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 firm had revenue of $47.38 million during the quarter, compared to analysts’ expectations 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 anticipate that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

nLIGHT 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.