nLight (NASDAQ:LASR) CEO Sells 31,748 Shares

nLight (NASDAQ:LASR) CEO Scott Keeney sold 31,748 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total value of $1,190,867.48. Following the completion of the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at $85,711,100.20. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

nLight Price Performance

LASR stock traded up $0.88 during midday trading on Friday, reaching $40.91. The company had a trading volume of 268,455 shares, compared to its average volume of 630,006. The firm has a 50-day moving average price of $35.10 and a 200-day moving average price of $29.09. The company has a market capitalization of $2.08 billion, a P/E ratio of -46.48 and a beta of 2.33. nLight has a 1 year low of $6.20 and a 1 year high of $41.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of research reports. Zacks Research downgraded nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Cantor Fitzgerald increased their price objective on nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. Canaccord Genuity Group raised nLight to a “buy” rating in a research note on Wednesday, December 17th. Finally, Needham & Company LLC increased their price target on shares of nLight from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.29.

Institutional Trading of nLight

A number of institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of nLight by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares during the period. Jane Street Group LLC increased its position in shares of nLight by 622.7% in the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock valued at $600,000 after acquiring an additional 66,518 shares during the period. Strs Ohio bought a new position in shares of nLight during the first quarter valued at about $371,000. GAMMA Investing LLC boosted its holdings in shares of nLight by 147.6% during the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after purchasing an additional 924 shares during the period. Finally, CWM LLC grew its stake in shares of nLight by 191.6% in the second quarter. CWM LLC now owns 8,475 shares of the company’s stock worth $167,000 after purchasing an additional 5,569 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

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. 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.