Pinnacle Associates Ltd. Sells 532,886 Shares of nLight $LASR

Pinnacle Associates Ltd. reduced its stake in shares of nLight (NASDAQ:LASR) by 31.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,153,546 shares of the company’s stock after selling 532,886 shares during the period. Pinnacle Associates Ltd.’s holdings in nLight were worth $22,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 924 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after purchasing an additional 1,700 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of nLight in the second quarter valued at about $96,000. State of Wyoming grew its position in shares of nLight by 110.6% in the first quarter. State of Wyoming now owns 14,762 shares of the company’s stock valued at $115,000 after purchasing an additional 7,754 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of nLight by 322.3% in the first quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock valued at $121,000 after purchasing an additional 11,884 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Joseph John Corso sold 38,284 shares of nLight stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $28.29, for a total value of $1,083,054.36. Following the completion of the transaction, the chief financial officer owned 273,118 shares in the company, valued at approximately $7,726,508.22. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott H. Keeney sold 62,507 shares of nLight stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $30.99, for a total transaction of $1,937,091.93. Following the completion of the transaction, the chief executive officer owned 2,319,038 shares of the company’s stock, valued at $71,866,987.62. This trade represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 374,980 shares of company stock valued at $10,650,501 in the last quarter. 4.70% of the stock is currently owned by corporate insiders.

nLight Stock Performance

NASDAQ:LASR opened at $31.57 on Friday. nLight has a 1 year low of $6.20 and a 1 year high of $33.96. The firm has a 50 day moving average of $30.14 and a 200-day moving average of $21.30. The company has a current ratio of 5.63, a quick ratio of 4.41 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.58 billion, a P/E ratio of -33.23 and a beta of 2.48.

nLight (NASDAQ:LASR) last posted its earnings results on Thursday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.15. nLight had a negative net margin of 21.66% and a negative return on equity of 19.12%. The company had revenue of $61.74 million during the quarter, compared to analysts’ expectations of $55.24 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. nLight’s quarterly revenue was up 22.2% compared to the same quarter last year. nLight has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that nLight will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

LASR has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on nLight from $12.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of nLight in a research report on Friday, August 8th. Cantor Fitzgerald lifted their target price on nLight from $27.50 to $33.50 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Finally, Benchmark lifted their target price on nLight from $15.00 to $25.00 and gave the stock a “speculative buy” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $27.42.

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.