Clearbridge Investments LLC lowered its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 6.5% in the 2nd quarter, according to its most recent Form 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.
A number of other large investors also recently added to or reduced their stakes in LASR. Corient Private Wealth LLC purchased a new stake in shares of nLIGHT in the fourth quarter worth about $473,000. Invenomic Capital Management LP bought a new position in nLIGHT during the fourth quarter valued at $1,139,000. Pinnacle Associates Ltd. grew its stake in shares of nLIGHT by 1.0% in the 1st 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 raised its position in shares of nLIGHT by 79.1% during the 1st quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company's stock valued at $284,000 after buying an additional 9,635 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of nLIGHT by 112.0% in 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 during the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.
nLIGHT Stock Performance
nLIGHT stock traded up $0.27 during mid-day trading on Friday, hitting $11.03. The company's stock had a trading volume of 287,787 shares, compared to its average volume of 216,428. nLIGHT, Inc. has a one year low of $8.13 and a one year high of $15.00. The stock has a market cap of $524.64 million, a PE ratio of -10.81 and a beta of 2.35. The company has a 50 day moving average of $11.07 and a 200-day moving average of $11.78.
nLIGHT (NASDAQ:LASR - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The business had revenue of $50.51 million for the quarter, compared to the consensus estimate of $49.23 million. During the same period in the prior year, the firm earned ($0.18) EPS. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities research analysts forecast that nLIGHT, Inc. will post -0.96 EPS for the current fiscal year.
Insider Buying and Selling at nLIGHT
In other news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total transaction of $51,033.84. Following the transaction, the chief financial officer now owns 171,434 shares of the company's stock, valued at approximately $1,961,204.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
LASR has been the topic of a number of recent research reports. Cantor Fitzgerald assumed coverage on nLIGHT in a research report on Thursday. They set an "overweight" rating and a $15.50 price objective on the stock. Benchmark restated a "speculative buy" rating and issued a $17.00 price target on shares of nLIGHT in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of nLIGHT in a research report on Monday, August 5th.
Check Out Our Latest Stock Analysis on nLIGHT
nLIGHT Profile
(
Free Report)
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.
Further Reading
Before you consider nLIGHT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and nLIGHT wasn't on the list.
While nLIGHT currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
