nLight (NASDAQ:LASR) Stake Raised by Brighton Jones LLC

Brighton Jones LLC grew its stake in shares of nLight (NASDAQ:LASR - Free Report) by 190.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,210 shares of the company's stock after purchasing an additional 61,783 shares during the quarter. Brighton Jones LLC owned 0.19% of nLight worth $732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Stifel Financial Corp boosted its position in nLight by 11.1% in the 4th quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock valued at $1,675,000 after buying an additional 15,904 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of nLight by 72.0% in the fourth quarter. Bank of America Corp DE now owns 209,644 shares of the company's stock worth $2,199,000 after acquiring an additional 87,788 shares in the last quarter. Raymond James Financial Inc. purchased a new position in nLight in the fourth quarter valued at about $1,976,000. Moody National Bank Trust Division grew its stake in nLight by 345.1% during the 1st quarter. Moody National Bank Trust Division now owns 48,757 shares of the company's stock valued at $379,000 after purchasing an additional 37,803 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in nLight by 39.9% during the 4th quarter. Two Sigma Investments LP now owns 123,559 shares of the company's stock valued at $1,296,000 after purchasing an additional 35,260 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Craig Hallum raised nLight from a "hold" rating to a "buy" rating and set a $14.00 target price on the stock in a research report on Friday, May 9th. Needham & Company LLC lifted their price target on shares of nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $15.70.

Insiders Place Their Bets

In other nLight news, CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $17.62, for a total value of $177,292.44. Following the completion of the transaction, the chief financial officer now directly owns 166,362 shares in the company, valued at $2,931,298.44. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott H. Keeney sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total value of $1,149,750.00. Following the transaction, the chief executive officer now directly owns 1,342,927 shares of the company's stock, valued at $20,587,070.91. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,917 shares of company stock valued at $2,666,667. Company insiders own 4.70% of the company's stock.

nLight Stock Down 5.6%

nLight stock traded down $1.04 during midday trading on Friday, hitting $17.33. The stock had a trading volume of 887,696 shares, compared to its average volume of 414,274. The business has a fifty day moving average price of $12.45 and a 200 day moving average price of $10.79. nLight has a 12 month low of $6.20 and a 12 month high of $19.44. The stock has a market cap of $856.94 million, a P/E ratio of -15.39 and a beta of 2.27. The company has a current ratio of 5.81, a quick ratio of 4.63 and a debt-to-equity ratio of 0.09.

nLight (NASDAQ:LASR - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.13. The company had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The business's revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. Research analysts predict that nLight will post -1.1 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.