nLight (NASDAQ:LASR) Director Sells 15,000 Shares

nLight (NASDAQ:LASR) Director William Gossman sold 15,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $44.36, for a total transaction of $665,400.00. Following the sale, the director directly owned 100,251 shares of the company’s stock, valued at approximately $4,447,134.36. This trade represents a 13.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Down 4.6%

Shares of nLight stock traded down $1.95 during trading hours on Tuesday, hitting $40.32. The company’s stock had a trading volume of 2,701,127 shares, compared to its average volume of 1,446,076. The business has a fifty day moving average of $61.14 and a 200 day moving average of $64.86. nLight has a 1-year low of $27.22 and a 1-year high of $86.95. The company has a market capitalization of $2.33 billion, a PE ratio of -161.28 and a beta of 2.31.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $78.58 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. On average, sell-side analysts anticipate that nLight will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LASR has been the subject of several recent research reports. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of nLight in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. Craig Hallum lifted their price target on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.94.

Hedge Funds Weigh In On nLight

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. increased its stake in shares of nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after buying an additional 1,727 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after acquiring an additional 647 shares in the last quarter. Wexford Capital LP acquired a new position in nLight during the 3rd quarter worth $41,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock worth $42,000 after purchasing an additional 1,102 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.