nLight (NASDAQ:LASR – Get Free Report) CEO Scott Keeney sold 16,089 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.60, for a total transaction of $1,200,239.40. Following the completion of the sale, the chief executive officer owned 2,185,039 shares of the company’s stock, valued at $163,003,909.40. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
nLight Trading Down 12.1%
NASDAQ:LASR opened at $65.85 on Friday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -219.49 and a beta of 2.31. The firm has a fifty day simple moving average of $70.22 and a two-hundred day simple moving average of $55.10. nLight has a 12 month low of $16.87 and a 12 month high of $86.95.
nLight (NASDAQ:LASR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.12. The firm 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 was up 55.2% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Equities analysts predict that nLight will post -0.17 earnings per share for the current fiscal year.
nLight News Summary
- Positive Sentiment: Analysts continue to view nLight favorably, with the stock carrying an average rating of “Moderate Buy”, which may help support longer-term confidence in the company. nLight Receives Average Rating of “Moderate Buy” from Analysts
- Neutral Sentiment: CFO Joseph John Corso sold 3,817 shares on June 4 and 3,840 shares on June 3 under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting, which suggests routine selling rather than a change in outlook. SEC filing for CFO Joseph John Corso sale
- Neutral Sentiment: CEO Scott H. Keeney sold 8,901 shares on June 3 and 16,089 shares on June 4, also through a 10b5-1 plan for tax withholding on vested awards; the company says the trades were planned and do not necessarily signal fundamental weakness. SEC filing for CEO Scott H. Keeney sale
- Neutral Sentiment: Chief Accounting Officer James Nias also sold 940 shares on June 3 under the same type of pre-arranged plan, adding to the near-term insider selling activity. SEC filing for CAO James Nias sale
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 valued at $187,166,000 after purchasing an additional 125,446 shares in the last quarter. Needham Investment Management LLC lifted its position in shares of nLight by 3.6% during the fourth quarter. Needham Investment Management LLC now owns 1,857,740 shares of the company’s stock valued at $69,684,000 after purchasing an additional 65,000 shares in the last quarter. Invesco Ltd. lifted its position in shares of nLight by 32.3% during the fourth quarter. Invesco Ltd. now owns 1,399,229 shares of the company’s stock valued at $52,485,000 after purchasing an additional 341,948 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of nLight by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,234,696 shares of the company’s stock valued at $46,320,000 after purchasing an additional 20,043 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in shares of nLight during the fourth quarter valued at about $41,315,000. 83.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LASR. Roth Mkm reiterated a “buy” rating and set a $81.00 price objective on shares of nLight in a report on Friday, April 24th. Robert W. Baird began coverage on shares of nLight in a report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Cantor Fitzgerald lifted their price objective on shares of nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a report on Tuesday, April 21st. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.
Get Our Latest Analysis on LASR
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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