42,320 Shares in nLIGHT, Inc. (NASDAQ:LASR) Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new position in shares of nLIGHT, Inc. (NASDAQ:LASR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 42,320 shares of the company’s stock, valued at approximately $444,000.

A number of other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its stake 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 purchasing an additional 935 shares during the period. XTX Topco Ltd boosted its stake in shares of nLIGHT by 7.2% during the 4th quarter. XTX Topco Ltd now owns 24,522 shares of the company’s stock worth $257,000 after purchasing an additional 1,641 shares during the period. Swiss National Bank boosted its stake in shares of nLIGHT by 1.9% during the 4th quarter. Swiss National Bank now owns 90,000 shares of the company’s stock worth $944,000 after purchasing an additional 1,700 shares during the period. Quantbot Technologies LP boosted its stake in shares of nLIGHT by 17.6% during the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company’s stock worth $124,000 after purchasing an additional 1,772 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of nLIGHT by 4.3% during the 4th quarter. Sei Investments Co. now owns 44,691 shares of the company’s stock worth $469,000 after purchasing an additional 1,861 shares during the period. 83.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Scott H. Keeney sold 53,511 shares of the business’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 completion of the sale, the chief executive officer now owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. The trade was a 4.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.70% of the company’s stock.

nLIGHT Stock Performance

NASDAQ:LASR opened at $12.67 on Friday. nLIGHT, Inc. has a one year low of $6.20 and a one year high of $14.73. The firm has a market cap of $626.39 million, a P/E ratio of -12.30 and a beta of 2.02. The firm has a 50-day simple moving average of $8.45 and a 200-day simple moving average of $9.96.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.13. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The business had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, research analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on LASR shares. Craig Hallum raised shares of nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Friday, May 9th. Needham & Company LLC lowered their price objective 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $14.90.

About nLIGHT

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.