James Nias Sells 940 Shares of nLight (NASDAQ:LASR) Stock

nLight (NASDAQ:LASR) CAO James Nias sold 940 shares of nLight stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total value of $73,310.60. Following the completion of the transaction, the chief accounting officer directly owned 97,621 shares in the company, valued at $7,613,461.79. This represents a 0.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Nias also recently made the following trade(s):

• On Wednesday, May 20th, James Nias sold 415 shares of nLight stock. The stock was sold at an average price of $71.09, for a total value of $29,502.35.
• On Tuesday, May 19th, James Nias sold 1,618 shares of nLight stock. The stock was sold at an average price of $68.48, for a total transaction of $110,800.64.
• On Monday, May 18th, James Nias sold 1,565 shares of nLight stock. The stock was sold at an average price of $70.82, for a total transaction of $110,833.30.
• On Friday, May 15th, James Nias sold 1,487 shares of nLight stock. The stock was sold at an average price of $75.16, for a total transaction of $111,762.92.
• On Thursday, March 12th, James Nias sold 1,808 shares of nLight stock. The stock was sold at an average price of $64.42, for a total transaction of $116,471.36.

nLight Trading Down 12.1%

Shares of LASR traded down $9.04 during midday trading on Friday, hitting $65.85. The stock had a trading volume of 1,160,903 shares, compared to its average volume of 1,511,003. nLight has a fifty-two week low of $16.87 and a fifty-two week high of $86.95. The business has a 50-day simple moving average of $70.34 and a two-hundred day simple moving average of $55.03. The firm has a market cap of $3.71 billion, a P/E ratio of -219.49 and a beta of 2.31.

nLight (NASDAQ:LASR) last announced its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The company had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $72.14 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 55.2% on a year-over-year basis. On average, analysts expect that nLight will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LASR shares. Robert W. Baird started coverage on shares of nLight in a research report on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 price target for the company. Roth Mkm reissued a “buy” rating and issued a $81.00 price target on shares of nLight in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Tuesday, April 21st. William Blair started coverage on shares of nLight in a research report on Friday, March 27th. They issued an “outperform” rating for the company. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price target on shares of nLight in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.06.

Hedge Funds Weigh In On nLight

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in 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 acquiring an additional 125,446 shares in the last quarter. Needham Investment Management LLC raised its position in 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 acquiring an additional 65,000 shares in the last quarter. Invesco Ltd. raised its position in 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 acquiring an additional 341,948 shares in the last quarter. Geode Capital Management LLC raised its position in 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 acquiring an additional 20,043 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in nLight during the fourth quarter valued at approximately $41,315,000. Institutional investors own 83.88% of the company’s stock.

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.