nLIGHT, Inc. (NASDAQ:LASR) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in nLIGHT, Inc. (NASDAQ:LASR) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,549,428 shares of the company’s stock after selling 107,375 shares during the quarter. Clearbridge Investments LLC owned approximately 3.26% of nLIGHT worth $16,935,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LASR. Corient Private Wealth LLC acquired a new position in nLIGHT in the 4th quarter valued at $473,000. Invenomic Capital Management LP acquired a new stake in shares of nLIGHT in the fourth quarter valued at about $1,139,000. Pinnacle Associates Ltd. lifted its stake in shares of nLIGHT by 1.0% in the first quarter. Pinnacle Associates Ltd. now owns 1,711,135 shares of the company’s stock worth $22,245,000 after buying an additional 17,314 shares in the last quarter. BNP Paribas Financial Markets boosted its position in nLIGHT by 79.1% during the first quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company’s stock worth $284,000 after acquiring an additional 9,635 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in nLIGHT by 112.0% during the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock valued at $857,000 after acquiring an additional 34,844 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald started coverage on nLIGHT in a research report on Thursday. They issued an “overweight” rating and a $15.50 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th. Finally, Benchmark restated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research report on Friday, August 2nd.

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the sale, the chief financial officer now owns 171,434 shares of the company’s stock, valued at $1,961,204.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.10% of the stock is currently owned by corporate insiders.

nLIGHT Stock Up 2.5 %

LASR stock opened at $11.03 on Friday. nLIGHT, Inc. has a 52-week low of $8.13 and a 52-week high of $15.00. The stock has a market cap of $524.64 million, a price-to-earnings ratio of -10.81 and a beta of 2.36. The business has a fifty day moving average of $11.10 and a two-hundred day moving average of $11.78.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $50.51 million for the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. nLIGHT’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, sell-side analysts anticipate that nLIGHT, Inc. will post -0.96 EPS for the current year.

nLIGHT Company 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.