nLight (NASDAQ:LASR) CEO Scott Keeney Sells 115,252 Shares

nLight (NASDAQ:LASR) CEO Scott Keeney sold 115,252 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $41.32, for a total value of $4,762,212.64. Following the completion of the sale, the chief executive officer directly owned 2,060,034 shares in the company, valued at approximately $85,120,604.88. The trade was a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Performance

Shares of NASDAQ:LASR opened at $39.29 on Friday. The business’s fifty day moving average price is $57.22 and its two-hundred day moving average price is $64.12. The stock has a market cap of $2.27 billion, a PE ratio of -157.16 and a beta of 2.30. nLight has a one year low of $27.22 and a one year high of $86.95.

nLight (NASDAQ:LASR) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The company had revenue of $82.59 million during the quarter, compared to analysts’ expectations of $78.58 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, equities research analysts predict that nLight will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Needham & Company LLC lifted their price target on shares of nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Friday, July 17th. UBS Group set a $90.00 price objective on shares of nLight in a research note on Friday, July 10th. Finally, Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given 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 a consensus target price of $87.94.

Hedge Funds Weigh In On nLight

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of nLight in the 1st quarter valued at $52,000. Sunbelt Securities Inc. increased its holdings in shares of nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 647 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of nLight by 7,871.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock worth $42,000 after buying an additional 1,102 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in shares of nLight in the 2nd quarter worth $81,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

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.