Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in nLight $LASR

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its holdings in nLight (NASDAQ:LASR) by 44.3%, owning 69,813 shares after selling 55,507 shares recently.
• CEO Scott H. Keeney sold 33,682 shares of nLight stock for approximately $657,809, resulting in a 2.72% decrease in his ownership stake.
• Analysts are optimistic about nLight, with upgrades and price targets being raised, including Benchmark's target rise from $15.00 to $25.00 and Needham's from $18.00 to $28.00.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of nLight (NASDAQ:LASR - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,813 shares of the company's stock after selling 55,507 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of nLight worth $542,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of nLight by 3,951.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock valued at $39,000 after purchasing an additional 3,596 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of nLight by 6,563.0% during the 1st quarter. GAMMA Investing LLC now owns 4,864 shares of the company's stock valued at $38,000 after purchasing an additional 4,791 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of nLight by 56.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,042 shares of the company's stock valued at $147,000 after purchasing an additional 5,049 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of nLight by 19.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,803 shares of the company's stock valued at $187,000 after purchasing an additional 2,888 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of nLight by 46.9% during the 4th quarter. ProShare Advisors LLC now owns 19,112 shares of the company's stock valued at $200,000 after purchasing an additional 6,098 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

nLight Trading Up 3.7%

Shares of LASR traded up $1.00 during mid-day trading on Friday, reaching $28.05. The stock had a trading volume of 887,575 shares, compared to its average volume of 1,080,616. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.41. nLight has a 52-week low of $6.20 and a 52-week high of $28.56. The business's fifty day moving average is $20.96 and its 200 day moving average is $14.06. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -29.53 and a beta of 2.35.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $61.74 million during the quarter, compared to analyst estimates of $55.24 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. nLight's quarterly revenue was up 22.2% on a year-over-year basis. nLight has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that nLight will post -1.1 EPS for the current fiscal year.

Insider Activity

In other nLight news, CEO Scott H. Keeney sold 75,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total transaction of $1,149,750.00. Following the completion of the transaction, the chief executive officer owned 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joseph John Corso sold 10,062 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $17.62, for a total transaction of $177,292.44. Following the transaction, the chief financial officer directly owned 166,362 shares of the company's stock, valued at approximately $2,931,298.44. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,502 shares of company stock valued at $6,996,892. 4.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LASR has been the subject of a number of research analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of nLight in a research report on Friday, August 8th. Needham & Company LLC upped their price objective on shares of nLight from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Stifel Nicolaus increased their target price on shares of nLight from $12.00 to $26.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Cantor Fitzgerald increased their target price on shares of nLight from $14.00 to $27.50 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Benchmark increased their target price on shares of nLight from $15.00 to $25.00 and gave the company a "speculative buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.42.

About nLight

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.