Insider Selling: nLight (NASDAQ:LASR) Director Sells $665,400.00 in Stock

nLight (NASDAQ:LASRGet Free Report) Director William Gossman sold 15,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $44.36, for a total value of $665,400.00. Following the completion of the sale, the director directly owned 100,251 shares of the company’s stock, valued at approximately $4,447,134.36. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Trading Down 4.6%

NASDAQ LASR traded down $1.95 on Tuesday, hitting $40.32. 2,701,127 shares of the stock traded hands, compared to its average volume of 1,446,076. The stock has a 50-day moving average of $61.14 and a 200 day moving average of $64.86. nLight has a twelve month low of $27.22 and a twelve month high of $86.95. The company has a market capitalization of $2.33 billion, a P/E ratio of -161.28 and a beta of 2.31.

nLight (NASDAQ:LASRGet Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.15 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 company had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s revenue was up 33.8% on a year-over-year basis. As a group, equities research analysts expect that nLight will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Craig Hallum lifted their price objective on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC raised their price target on shares of nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price objective on shares of nLight in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.94.

Get Our Latest Research Report on nLight

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC lifted its stake in nLight by 23.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 103,978 shares of the company’s stock valued at $3,900,000 after buying an additional 19,435 shares during the last quarter. Vanguard Group Inc. grew its position in shares of nLight by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock worth $187,166,000 after acquiring an additional 125,446 shares during the last quarter. Amundi acquired a new stake in shares of nLight in the 1st quarter worth about $1,023,000. Rice Hall James & Associates LLC acquired a new stake in shares of nLight in the 2nd quarter worth about $3,740,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in nLight in the 4th quarter valued at about $788,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

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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