nLight (NASDAQ:LASR) CEO Scott Keeney Sells 9,753 Shares of Stock

nLight (NASDAQ:LASR – Get Free Report) CEO Scott Keeney sold 9,753 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $396,849.57. Following the completion of the sale, the chief executive officer directly owned 2,175,286 shares in the company, valued at approximately $88,512,387.34. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

nLight Trading Up 3.7%

nLight stock opened at $41.53 on Wednesday. The stock has a market cap of $2.40 billion, a P/E ratio of -166.12 and a beta of 2.30. The company has a fifty day simple moving average of $58.22 and a 200-day simple moving average of $64.34. nLight has a 12-month low of $27.22 and a 12-month high of $86.95.

Get nLight alerts:

nLight (NASDAQ:LASR – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $82.59 million for the quarter, compared to analyst estimates of $78.58 million. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.nLight’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. As a group, sell-side analysts forecast that nLight will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LASR. Lisanti Capital Growth LLC grew its holdings in nLight by 23.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 103,978 shares of the company’s stock worth $3,900,000 after acquiring an additional 19,435 shares during the period. Amundi purchased a new stake in shares of nLight during the 1st quarter worth $1,023,000. Vanguard Group Inc. grew its stake in shares of nLight by 2.6% during 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 period. Rice Hall James & Associates LLC purchased a new position in shares of nLight in the 2nd quarter valued at about $3,740,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of nLight in the first quarter valued at about $1,847,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LASR shares. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Craig Hallum raised 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. UBS Group set a $90.00 target price on shares of nLight in a report on Friday, July 10th. Stifel Nicolaus lifted their price target on shares of nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One 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. According to MarketBeat, nLight currently has an average rating of “Moderate Buy” and an average price target of $87.94.

Get 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.

See Also

• Five stocks we like better than nLight
• Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
• Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
• Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For

Receive News & Ratings for nLight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nLight and related companies with MarketBeat.com's FREE daily email newsletter.