Geoffrey Moore Sells 4,452 Shares of nLight (NASDAQ:LASR) Stock

nLight (NASDAQ:LASR) Director Geoffrey Moore sold 4,452 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $38.45, for a total transaction of $171,179.40. Following the completion of the transaction, the director owned 85,717 shares in the company, valued at approximately $3,295,818.65. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Up 3.7%

nLight stock opened at $39.84 on Friday. The firm has a 50 day moving average price of $54.03 and a 200-day moving average price of $63.26. nLight has a twelve month low of $27.79 and a twelve month high of $86.95. The company has a market capitalization of $2.30 billion, a P/E ratio of -159.35 and a beta of 2.30.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LASR. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. Craig Hallum lifted their target price on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Zacks Research cut nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. UBS Group set a $90.00 price objective on shares of nLight in a research report on Friday, July 10th. Finally, Needham & Company LLC upped their target price on shares of nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, nLight has a consensus rating of “Moderate Buy” and an average price target of $87.94.

Institutional Trading of nLight

A number of large investors have recently modified their holdings of LASR. Tidal Investments LLC increased its position in shares of nLight by 2,995.5% in the second quarter. Tidal Investments LLC now owns 406,624 shares of the company’s stock worth $28,309,000 after purchasing an additional 393,488 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of nLight during the 2nd quarter valued at $175,000. Arizona State Retirement System lifted its holdings in shares of nLight by 10.4% during the 2nd quarter. Arizona State Retirement System now owns 14,625 shares of the company’s stock worth $1,018,000 after acquiring an additional 1,373 shares during the last quarter. Nykredit A S bought a new stake in nLight during the second quarter worth about $131,000. Finally, Corient Private Wealth LP bought a new position in shares of nLight during the 2nd quarter valued at about $357,000. Institutional investors own 83.88% of the company’s stock.

nLight Company Profile

nLight, Inc is a photonics company that develops and manufactures high-power semiconductor and fiber lasers, as well as related components and laser systems. Its products are designed for applications that require precise, high-intensity light and are used across industrial, microfabrication, aerospace and defense markets.

The company’s product portfolio includes semiconductor laser diodes, fiber lasers, and advanced laser systems. nLight also develops components and technologies intended to improve laser performance, reliability, beam quality and control.