Point72 Asset Management L.P. Trims Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Point72 Asset Management L.P. trimmed its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,769 shares of the company’s stock after selling 11,965 shares during the quarter. Point72 Asset Management L.P. owned about 0.12% of nLIGHT worth $618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of LASR. Divisar Capital Management LLC raised its stake in shares of nLIGHT by 9.4% in the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after purchasing an additional 133,023 shares during the last quarter. Victory Capital Management Inc. increased its holdings in nLIGHT by 6.6% in the 3rd quarter. Victory Capital Management Inc. now owns 97,500 shares of the company’s stock worth $1,042,000 after buying an additional 6,000 shares in the last quarter. Creative Planning bought a new stake in nLIGHT in the 3rd quarter worth about $136,000. Natixis Advisors LLC raised its position in nLIGHT by 19.2% in the 2nd quarter. Natixis Advisors LLC now owns 93,043 shares of the company’s stock worth $1,017,000 after buying an additional 14,983 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in nLIGHT by 969.0% during the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after acquiring an additional 9,690 shares during the period. 83.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $18,505,033.13. The trade was a 1.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the sale, the chief financial officer now owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,006 shares of company stock valued at $739,716. 6.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target for the company. Needham & Company LLC boosted their target price on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

nLIGHT Stock Performance

LASR stock opened at $11.28 on Thursday. The company has a market capitalization of $546.29 million, a PE ratio of -10.95 and a beta of 2.20. The company’s fifty day moving average price is $11.33 and its 200-day moving average price is $11.45. nLIGHT, Inc. has a one year low of $9.80 and a one year high of $15.00.

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.