nLight (NASDAQ:LASR) CEO Scott Keeney Sells 181,750 Shares of Stock

nLight (NASDAQ:LASRGet Free Report) CEO Scott Keeney sold 181,750 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $44.15, for a total value of $8,024,262.50. Following the transaction, the chief executive officer owned 2,185,039 shares in the company, valued at $96,469,471.85. This represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Down 1.8%

LASR opened at $43.30 on Wednesday. nLight has a 52 week low of $27.22 and a 52 week high of $86.95. The business’s 50 day moving average is $62.85 and its two-hundred day moving average is $65.08. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -173.20 and a beta of 2.31.

nLight (NASDAQ:LASRGet Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $82.59 million for the quarter, compared to analyst estimates of $78.58 million. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. Equities analysts expect that nLight will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On nLight

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of nLight in the 1st quarter worth approximately $52,000. Sunbelt Securities Inc. raised its holdings 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 last quarter. 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in nLight by 7,871.4% in 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. Finally, Allworth Financial LP acquired a new stake in nLight in the second quarter valued at $81,000. 83.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LASR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. Craig Hallum increased their price objective on nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Stifel Nicolaus increased their price objective on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Zacks Research downgraded nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.94.

View Our Latest Research Report on nLight

About nLight

(Get Free Report)

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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