Magnetar Financial LLC Sells 9,809 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Magnetar Financial LLC reduced its stake in nLIGHT, Inc. (NASDAQ:LASR) by 39.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,873 shares of the company’s stock after selling 9,809 shares during the period. Magnetar Financial LLC’s holdings in nLIGHT were worth $156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in shares of nLIGHT by 47.4% in the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock worth $30,000 after buying an additional 935 shares during the period. R Squared Ltd bought a new stake in nLIGHT in the 4th quarter worth $33,000. Point72 DIFC Ltd raised its stake in shares of nLIGHT by 1,637.2% during 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of nLIGHT during the third quarter valued at about $50,000. Finally, Quantbot Technologies LP grew its stake in shares of 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 last quarter. Institutional investors own 83.88% of the company’s stock.

Insider Activity at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 12,013 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total transaction of $119,649.48. Following the completion of the transaction, the chief executive officer now owns 1,340,146 shares of the company’s stock, valued at approximately $13,347,854.16. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 68,024 shares of company stock valued at $579,934 in the last three months. Company insiders own 6.10% of the company’s stock.

nLIGHT Stock Performance

LASR stock opened at $8.56 on Monday. The company has a market capitalization of $419.71 million, a price-to-earnings ratio of -8.31 and a beta of 2.29. The business’s 50 day moving average price is $10.17 and its two-hundred day moving average price is $10.72. nLIGHT, Inc. has a fifty-two week low of $7.94 and a fifty-two week high of $14.73.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The firm had revenue of $47.38 million during the quarter, compared to the consensus estimate of $46.62 million. Sell-side analysts forecast that nLIGHT, Inc. will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.