First Washington CORP Sells 9,663 Shares of nLIGHT, Inc. (NASDAQ:LASR)

First Washington CORP reduced its stake in nLIGHT, Inc. (NASDAQ:LASR) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,568 shares of the company’s stock after selling 9,663 shares during the quarter. First Washington CORP owned about 0.51% of nLIGHT worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Associates Ltd. raised its stake in nLIGHT by 18.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after buying an additional 309,634 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in nLIGHT by 17.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock worth $14,104,000 after purchasing an additional 154,273 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in nLIGHT during the 4th quarter valued at about $1,139,000. Dimensional Fund Advisors LP lifted its stake in shares of nLIGHT by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company’s stock worth $12,547,000 after buying an additional 47,267 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of nLIGHT during the fourth quarter valued at approximately $473,000. 83.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the transaction, the chief financial officer now owns 171,434 shares in the company, valued at $1,961,204.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LASR has been the topic of several recent analyst reports. Benchmark reiterated a “speculative buy” rating and set a $17.00 target price on shares of nLIGHT in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of nLIGHT in a report on Monday, August 5th.

nLIGHT Stock Down 0.4 %

LASR opened at $10.65 on Wednesday. The stock has a market capitalization of $506.57 million, a price-to-earnings ratio of -10.44 and a beta of 2.36. The firm has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.97. nLIGHT, Inc. has a twelve month low of $8.13 and a twelve month high of $15.00.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. The company had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that nLIGHT, Inc. will post -0.96 earnings per share for the current year.

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.