nLight (NASDAQ:LASR) CEO Sells $548,129.86 in Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 15,371 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $35.66, for a total transaction of $548,129.86. Following the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at $81,483,813.20. The trade was a 0.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

nLight Stock Up 0.3%

LASR traded up $0.10 during midday trading on Friday, hitting $36.44. The company had a trading volume of 450,629 shares, compared to its average volume of 866,409. nLight has a 52 week low of $6.20 and a 52 week high of $38.62. 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 company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -41.41 and a beta of 2.34. The stock’s 50 day moving average price is $31.85 and its 200 day moving average price is $25.55.

Hedge Funds Weigh In On nLight

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 924 shares during the last quarter. Osaic Holdings Inc. grew its position in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares in the last quarter. Wexford Capital LP purchased a new stake in nLight in the 3rd quarter valued at about $41,000. Global Retirement Partners LLC bought a new position in shares of nLight during the 3rd quarter worth approximately $49,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of nLight by 162.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after buying an additional 1,700 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LASR. Benchmark upped their price target on nLight from $15.00 to $25.00 and gave the stock a “speculative buy” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus boosted their price target on shares of nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Cantor Fitzgerald raised their price objective on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.67.

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.