Insider Selling: nLight (NASDAQ:LASR) CEO Sells 9,625 Shares of Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 9,625 shares of nLight stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $33.78, for a total transaction of $325,132.50. Following the sale, the chief executive officer owned 2,300,391 shares in the company, valued at approximately $77,707,207.98. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

nLight Price Performance

LASR traded up $0.10 during midday trading on Friday, reaching $36.44. 450,629 shares of the company’s stock were exchanged, compared to its average volume of 866,409. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $31.85 and a two-hundred day simple moving average of $25.55. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -41.41 and a beta of 2.34. nLight has a one year low of $6.20 and a one year high of $38.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LASR. Assenagon Asset Management S.A. raised its stake in shares of nLight by 1.6% during the third quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock worth $661,000 after buying an additional 357 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in nLight by 12.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock worth $97,000 after acquiring an additional 561 shares during the period. The Manufacturers Life Insurance Company grew its holdings in nLight by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,988 shares of the company’s stock worth $354,000 after acquiring an additional 723 shares during the period. GAMMA Investing LLC raised its position in shares of nLight by 147.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after acquiring an additional 924 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of nLight by 45.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,488 shares of the company’s stock valued at $103,000 after purchasing an additional 1,091 shares during the period. 83.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Benchmark boosted their price target on nLight from $15.00 to $25.00 and gave the company a “speculative buy” rating in a research note on Friday, August 8th. Needham & Company LLC boosted their target price on shares of nLight from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Stifel Nicolaus upped their target price on shares of nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Cantor Fitzgerald lifted their price target on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of nLight in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.67.

nLight Company Profile

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.