nLight (NASDAQ:LASR) CEO Scott Keeney Sells 45,191 Shares of Stock

nLight (NASDAQ:LASR – Get Free Report) CEO Scott Keeney sold 45,191 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $70.82, for a total value of $3,200,426.62. Following the sale, the chief executive officer directly owned 2,422,254 shares of the company’s stock, valued at $171,544,028.28. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nLight Trading Down 1.9%

Shares of LASR opened at $69.49 on Wednesday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -231.63 and a beta of 2.34. The stock has a 50 day moving average of $68.02 and a 200 day moving average of $51.29. nLight has a 12 month low of $12.45 and a 12 month high of $86.95.

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

Analysts Set New Price Targets

Several research firms recently weighed in on LASR. Cantor Fitzgerald increased their price target on shares of nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a research report on Friday, February 27th. Needham & Company LLC increased their price target on shares of nLight from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Roth Mkm restated a “buy” rating and set a $81.00 price target on shares of nLight in a research report on Friday, April 24th. William Blair began coverage on nLight in a report on Friday, March 27th. They set an “outperform” rating for the company. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price objective on shares of nLight in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, nLight presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.81.

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Hedge Funds Weigh In On nLight

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. bought a new position in nLight during the first quarter worth about $52,000. Sunbelt Securities Inc. boosted its position in 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 during the period. EverSource Wealth Advisors LLC boosted its position in 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 during the period. Financial Consulate Inc. bought a new position in nLight during the fourth quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in 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 worth $42,000 after purchasing an additional 1,102 shares during the period. Institutional investors own 83.88% of the company’s stock.

nLight Company Profile

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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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