James Nias Sells 1,025 Shares of nLight (NASDAQ:LASR) Stock

nLight (NASDAQ:LASR) CAO James Nias sold 1,025 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $40.69, for a total value of $41,707.25. Following the transaction, the chief accounting officer owned 96,596 shares of the company’s stock, valued at $3,930,491.24. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nLight Price Performance

Shares of LASR stock opened at $40.99 on Thursday. The stock’s fifty day simple moving average is $57.70 and its 200 day simple moving average is $64.24. nLight has a one year low of $27.22 and a one year high of $86.95. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of -163.96 and a beta of 2.30.

nLight (NASDAQ:LASR) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. During the same period in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. On average, research analysts anticipate that nLight will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LASR shares. Craig Hallum lifted their price target on shares of nLight from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. UBS Group set a $90.00 target price on shares of nLight in a research note on Friday, July 10th. Stifel Nicolaus boosted their target price on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Needham & Company LLC increased their price target on nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, nLight has an average rating of “Moderate Buy” and a consensus price target of $87.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its position in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. lifted 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 worth $38,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 worth $40,000 after purchasing an additional 647 shares in the last quarter. Wexford Capital LP acquired a new position in shares of nLight during the third quarter worth approximately $41,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after purchasing an additional 1,102 shares during the last quarter. 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.