nLight (NASDAQ:LASR) CEO Sells $3,253,572.72 in Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 41,373 shares of nLight stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $78.64, for a total value of $3,253,572.72. Following the completion of the transaction, the chief executive officer directly owned 2,251,400 shares in the company, valued at approximately $177,050,096. This represents a 1.80% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Up 0.0%

Shares of NASDAQ LASR opened at $76.39 on Thursday. The business’s 50 day moving average is $70.28 and its two-hundred day moving average is $54.72. The company has a market cap of $4.31 billion, a P/E ratio of -254.62 and a beta of 2.31. nLight has a 12 month low of $16.25 and a 12 month high of $86.95.

nLight (NASDAQ:LASR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.08 by $0.12. The company had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The company’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. Sell-side analysts expect that nLight will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of nLight

A number of institutional investors and hedge funds have recently modified their holdings of LASR. Osaic Holdings Inc. increased its position in shares of nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after purchasing an additional 1,727 shares during the period. Sunbelt Securities Inc. increased its position in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares during the period. Financial Consulate Inc. bought a new stake in nLight in the fourth quarter valued at $41,000. Finally, Wexford Capital LP bought a new stake in nLight in the third quarter valued at $41,000. 83.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on LASR shares. Needham & Company LLC lifted their price target on nLight from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price target on shares of nLight in a research report on Friday, May 8th. William Blair started coverage on nLight in a research report on Friday, March 27th. They issued an “outperform” rating on the stock. Cantor Fitzgerald boosted their price objective on nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a research report on Friday, February 27th. Finally, Roth Mkm restated a “buy” rating and set a $81.00 price objective on shares of nLight in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, nLight has a consensus rating of “Moderate Buy” and an average price target of $69.06.

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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.