nLight (NASDAQ:LASR – Get Free Report) CAO James Nias sold 940 shares of nLight stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total transaction of $73,310.60. Following the completion of the transaction, the chief accounting officer directly owned 97,621 shares in the company, valued at approximately $7,613,461.79. This represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
James Nias also recently made the following trade(s):
- On Wednesday, May 20th, James Nias sold 415 shares of nLight stock. The shares were sold at an average price of $71.09, for a total transaction of $29,502.35.
- On Tuesday, May 19th, James Nias sold 1,618 shares of nLight stock. The shares were sold at an average price of $68.48, for a total transaction of $110,800.64.
- On Monday, May 18th, James Nias sold 1,565 shares of nLight stock. The shares were sold at an average price of $70.82, for a total transaction of $110,833.30.
- On Friday, May 15th, James Nias sold 1,487 shares of nLight stock. The shares were sold at an average price of $75.16, for a total transaction of $111,762.92.
- On Thursday, March 12th, James Nias sold 1,808 shares of nLight stock. The shares were sold at an average price of $64.42, for a total transaction of $116,471.36.
nLight Stock Down 12.1%
Shares of NASDAQ:LASR traded down $9.04 during trading on Friday, reaching $65.85. The stock had a trading volume of 1,160,903 shares, compared to its average volume of 1,511,003. nLight has a 52 week low of $16.87 and a 52 week high of $86.95. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -219.49 and a beta of 2.31. The stock has a fifty day simple moving average of $70.34 and a two-hundred day simple moving average of $55.03.
Institutional Investors Weigh In On nLight
A number of institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its holdings in shares of nLight by 161,736.7% in the 3rd quarter. Federated Hermes Inc. now owns 79,300 shares of the company’s stock worth $2,350,000 after purchasing an additional 79,251 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in shares of nLight by 6,151.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 41,819 shares of the company’s stock worth $1,239,000 after purchasing an additional 41,150 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of nLight by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock worth $187,166,000 after purchasing an additional 125,446 shares during the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of nLight by 23.0% in the 4th quarter. Lisanti Capital Growth LLC now owns 103,978 shares of the company’s stock worth $3,900,000 after purchasing an additional 19,435 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of nLight in the 4th quarter worth about $788,000. 83.88% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on LASR. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Cantor Fitzgerald boosted their target price on shares of nLight from $40.00 to $62.50 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Stifel Nicolaus boosted their target price on shares of nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research report on Tuesday, April 21st. Finally, William Blair began coverage on shares of nLight in a research report on Friday, March 27th. They set an “outperform” rating on the stock. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.
Get Our Latest Research Report on nLight
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.
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