Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 63.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,661 shares of the company’s stock after buying an additional 40,564 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of nLIGHT worth $1,119,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LASR. State Board of Administration of Florida Retirement System grew its stake in nLIGHT by 9.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock worth $181,000 after buying an additional 1,220 shares during the period. Vanguard Group Inc. lifted its position in shares of nLIGHT by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company’s stock worth $65,855,000 after purchasing an additional 23,697 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of nLIGHT by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after purchasing an additional 1,886 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of nLIGHT by 18.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after purchasing an additional 309,634 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of nLIGHT by 19.2% during the second quarter. Natixis Advisors LLC now owns 93,043 shares of the company’s stock worth $1,017,000 after purchasing an additional 14,983 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of recent research reports. Benchmark reissued a “speculative buy” rating and set a $17.00 target price on shares of nLIGHT in a research report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price on the stock. Finally, Needham & Company LLC boosted their target price on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Insider Activity at nLIGHT

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 sale, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total transaction of $166,650.00. Following the sale, the chief executive officer now directly owns 1,347,781 shares in the company, valued at $14,973,846.91. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,461 shares of company stock valued at $746,884 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

nLIGHT Price Performance

LASR opened at $10.73 on Thursday. The stock has a market capitalization of $519.64 million, a PE ratio of -10.42 and a beta of 2.33. The firm’s fifty day moving average price is $11.25 and its 200 day moving average price is $11.60. nLIGHT, Inc. has a 12-month low of $9.80 and a 12-month high of $15.00.

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.