Squarepoint Ops LLC Takes $876,000 Position in nLIGHT, Inc. (NASDAQ:LASR)

Squarepoint Ops LLC bought a new stake in nLIGHT, Inc. (NASDAQ:LASR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,839 shares of the company’s stock, valued at approximately $876,000. Squarepoint Ops LLC owned approximately 0.07% of nLIGHT as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in shares of nLIGHT during the fourth quarter valued at approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of nLIGHT by 38.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,558 shares of the company’s stock valued at $149,000 after acquiring an additional 1,258 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of nLIGHT during the fourth quarter valued at approximately $215,000. Citigroup Inc. increased its position in shares of nLIGHT by 251.9% during the fourth quarter. Citigroup Inc. now owns 7,165 shares of the company’s stock valued at $234,000 after acquiring an additional 5,129 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of nLIGHT during the fourth quarter valued at approximately $241,000. Institutional investors own 86.50% of the company’s stock.

A number of analysts recently commented on LASR shares. Zacks Investment Research downgraded nLIGHT from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 23rd. Needham & Company LLC increased their price target on nLIGHT from $33.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. Craig Hallum increased their price target on nLIGHT from $32.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 18th. DA Davidson raised their target price on nLIGHT from $30.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. Finally, Canaccord Genuity raised their target price on nLIGHT from $27.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. nLIGHT currently has a consensus rating of “Buy” and an average price target of $40.00.

In related news, CFO Ran Bareket sold 7,500 shares of nLIGHT stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $37.74, for a total transaction of $283,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 22,500 shares of company stock valued at $846,750. 5.50% of the stock is owned by company insiders.

Shares of NASDAQ LASR opened at $30.80 on Thursday. The stock has a market cap of $1.24 billion, a PE ratio of -42.78 and a beta of 2.68. nLIGHT, Inc. has a fifty-two week low of $12.19 and a fifty-two week high of $46.45. The stock has a fifty day moving average of $35.87 and a 200-day moving average of $31.53.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings results on Wednesday, February 17th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.18. The company had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $62.80 million. nLIGHT had a negative return on equity of 9.52% and a negative net margin of 13.57%. Analysts predict that nLIGHT, Inc. will post -0.44 EPS for the current fiscal year.

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 laser chips, optical fiber in-house, and electrical-optical components.

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Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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