nLIGHT, Inc. (NASDAQ:LASR) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its holdings in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 16.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,693,821 shares of the company's stock after selling 326,948 shares during the period. Pinnacle Associates Ltd. owned 3.52% of nLIGHT worth $18,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. nVerses Capital LLC raised its holdings in nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company's stock valued at $45,000 after acquiring an additional 3,500 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of nLIGHT by 969.0% in the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company's stock valued at $114,000 after purchasing an additional 9,690 shares during the last quarter. ProShare Advisors LLC lifted its position in nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company's stock worth $150,000 after buying an additional 1,503 shares in the last quarter. Creative Planning acquired a new position in nLIGHT during the third quarter worth $136,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in nLIGHT by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company's stock valued at $172,000 after buying an additional 1,886 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at nLIGHT

In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total value of $166,650.00. Following the completion of the transaction, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $14,973,846.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total value of $166,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares in the company, valued at approximately $14,973,846.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph John Corso sold 4,461 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 34,461 shares of company stock worth $385,684 in the last three months. 6.10% of the stock is owned by company insiders.

nLIGHT Price Performance

Shares of NASDAQ:LASR traded down $0.14 during midday trading on Wednesday, reaching $12.91. 409,722 shares of the company's stock were exchanged, compared to its average volume of 225,032. The stock has a market cap of $614.06 million, a price-to-earnings ratio of -12.66 and a beta of 2.35. nLIGHT, Inc. has a fifty-two week low of $8.13 and a fifty-two week high of $15.00. The firm's 50 day simple moving average is $11.09 and its two-hundred day simple moving average is $11.62.

nLIGHT (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.03. The business had revenue of $50.51 million during the quarter, compared to analysts' expectations of $49.23 million. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The business's revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the business earned ($0.18) earnings per share. Equities research analysts predict that nLIGHT, Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LASR has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of nLIGHT in a report on Monday, August 5th. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 target price on the stock. Finally, Benchmark restated a "speculative buy" rating and set a $17.00 price target on shares of nLIGHT in a report on Friday, August 2nd.

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.