nLight (NASDAQ:LASR) CEO Sells $3,200,613.44 in Stock

nLight (NASDAQ:LASR – Get Free Report) CEO Scott Keeney sold 42,584 shares of nLight stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $75.16, for a total transaction of $3,200,613.44. Following the completion of the transaction, the chief executive officer directly owned 2,467,445 shares of the company’s stock, valued at $185,453,166.20. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nLight Stock Down 1.9%

nLight stock traded down $1.34 during trading hours on Tuesday, hitting $69.49. The stock had a trading volume of 997,065 shares, compared to its average volume of 1,332,100. The stock has a market capitalization of $3.92 billion, a P/E ratio of -231.63 and a beta of 2.34. nLight has a 12-month low of $12.45 and a 12-month high of $86.95. The stock’s 50-day moving average price is $68.02 and its 200-day moving average price is $51.29.

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nLight (NASDAQ:LASR – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.12. The business had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The business’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, research analysts expect that nLight will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On nLight

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in nLight by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock valued at $187,166,000 after purchasing an additional 125,446 shares in the last quarter. Needham Investment Management LLC grew its holdings in shares of nLight by 3.6% in the fourth quarter. Needham Investment Management LLC now owns 1,857,740 shares of the company’s stock worth $69,684,000 after purchasing an additional 65,000 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of nLight by 32.3% in the 4th quarter. Invesco Ltd. now owns 1,399,229 shares of the company’s stock valued at $52,485,000 after buying an additional 341,948 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of nLight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,234,696 shares of the company’s stock valued at $46,320,000 after buying an additional 20,043 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of nLight in the 4th quarter valued at about $41,315,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LASR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Tuesday, April 21st. Needham & Company LLC boosted their price objective on shares of nLight from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price objective (up from $68.00) on shares of nLight in a report on Friday, April 17th. Roth Mkm reissued a “buy” rating and set a $81.00 price objective on shares of nLight in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.81.

Check Out Our Latest Research Report on LASR

About nLight

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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.

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