Senvest Management LLC Purchases 1,322,637 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Senvest Management LLC increased its stake in nLIGHT, Inc. (NASDAQ:LASR) by 114.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,481,677 shares of the company’s stock after buying an additional 1,322,637 shares during the quarter. nLIGHT makes up 0.8% of Senvest Management LLC’s holdings, making the stock its 28th biggest position. Senvest Management LLC owned about 5.12% of nLIGHT worth $26,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management lifted 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 buying an additional 935 shares during the last quarter. R Squared Ltd bought a new stake in shares of nLIGHT in the 4th quarter valued at $33,000. Russell Investments Group Ltd. grew its stake in shares of nLIGHT by 3,951.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock valued at $39,000 after buying an additional 3,596 shares during the period. KLP Kapitalforvaltning AS acquired a new position in nLIGHT during the 4th quarter worth approximately $102,000. Finally, Moody National Bank Trust Division bought a new position in shares of nLIGHT in the 4th quarter worth $115,000. 83.88% of the stock is owned by institutional investors.

nLIGHT Price Performance

Shares of LASR stock opened at $7.33 on Monday. The stock has a market capitalization of $359.40 million, a price-to-earnings ratio of -7.12 and a beta of 2.24. nLIGHT, Inc. has a 1 year low of $6.20 and a 1 year high of $14.73. The company’s fifty day simple moving average is $8.96 and its two-hundred day simple moving average is $10.35.

nLIGHT (NASDAQ:LASR) last posted its earnings results on Thursday, February 27th. The company reported ($0.42) earnings per share 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 for the quarter, compared to the consensus estimate of $46.62 million. Equities research analysts anticipate that nLIGHT, Inc. will post -1.1 EPS for the current year.

Insider Activity at nLIGHT

In related news, CEO Scott H. Keeney sold 53,511 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 $10,358,963.59. The trade was a 4.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

nLIGHT Profile

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.