Damn big light to grow seedlings with, but yes, if you keep it about 36 inches above the plants and acclimate them to the light slowly.
Lower the light by about 6 inches a week until you get it to 18 inches. Watch the plants closely for any signs of heat stress, (dormancy, wilting/drooping, leaf edges getting dry or browning). If that occurs, just move it back to it's previous position.
A smaller light would be easier. I use a 150 watt HPS at about 6 to 8 inches. It works great with a diffused lens (Typical HPS floodlight).