Citigroup Inc. lifted its position in shares of Nlight Inc (NASDAQ:LASR) by 171.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,208 shares of the company’s stock after buying an additional 6,449 shares during the period. Citigroup Inc.’s holdings in Nlight were worth $207,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of Nlight during the third quarter worth about $157,000. Jennison Associates LLC boosted its position in shares of Nlight by 5.8% during the fourth quarter. Jennison Associates LLC now owns 1,157,082 shares of the company’s stock worth $23,466,000 after buying an additional 63,824 shares during the period. State Street Corp boosted its position in shares of Nlight by 10.0% during the third quarter. State Street Corp now owns 611,155 shares of the company’s stock worth $9,571,000 after buying an additional 55,396 shares during the period. Stifel Financial Corp boosted its position in shares of Nlight by 24.1% during the third quarter. Stifel Financial Corp now owns 15,185 shares of the company’s stock worth $240,000 after buying an additional 2,947 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of Nlight by 42.4% during the third quarter. Metropolitan Life Insurance Co NY now owns 10,755 shares of the company’s stock worth $168,000 after buying an additional 3,200 shares during the period. 78.74% of the stock is owned by institutional investors.
LASR opened at $12.21 on Thursday. Nlight Inc has a 52-week low of $9.03 and a 52-week high of $26.77. The firm has a market capitalization of $406.65 million, a PE ratio of -35.91 and a beta of 2.11. The business’s 50-day simple moving average is $15.78 and its 200 day simple moving average is $17.24.
Nlight (NASDAQ:LASR) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. Nlight had a negative return on equity of 3.94% and a negative net margin of 7.29%. The business had revenue of $42.90 million for the quarter, compared to analyst estimates of $38.34 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Nlight’s revenue was down 10.9% on a year-over-year basis. On average, equities research analysts anticipate that Nlight Inc will post -0.63 earnings per share for the current year.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Nlight from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised Nlight from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th. Piper Jaffray Companies assumed coverage on Nlight in a research report on Friday, December 20th. They set an “overweight” rating and a $25.00 price objective for the company. TheStreet upgraded Nlight from a “d” rating to a “c-” rating in a report on Thursday, February 20th. Finally, BidaskClub upgraded Nlight from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Nlight has an average rating of “Hold” and a consensus target price of $20.00.
In related news, CEO Scott H. Keeney sold 5,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the sale, the chief executive officer now owns 299,162 shares in the company, valued at $5,989,223.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 15,405 shares of company stock worth $319,298 in the last quarter. 5.80% of the stock is currently owned by corporate insiders.
Nlight Company Profile
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.
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