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

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

nLight Trading Up 3.7%

Shares of LASR traded up $1.47 during trading hours on Tuesday, hitting $41.53. The company had a trading volume of 1,549,626 shares, compared to its average volume of 1,449,755. The company has a market capitalization of $2.40 billion, a PE ratio of -166.12 and a beta of 2.30. nLight has a one year low of $27.22 and a one year high of $86.95. The company’s fifty day moving average price is $58.78 and its two-hundred day moving average price is $64.43.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating 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 the consensus estimate of $78.58 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts forecast that nLight will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On nLight

A number of large investors have recently modified their holdings of LASR. SBI Securities Co. Ltd. increased its holdings in shares of nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after acquiring an additional 223 shares in the last quarter. Quantinno Capital Management LP boosted its stake in nLight by 0.7% in the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company’s stock worth $2,384,000 after purchasing an additional 281 shares in the last quarter. ProShare Advisors LLC boosted its stake in nLight by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 13,745 shares of the company’s stock worth $516,000 after purchasing an additional 358 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in nLight by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,574 shares of the company’s stock worth $997,000 after purchasing an additional 422 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in nLight by 8.0% during the 4th quarter. NewEdge Advisors LLC now owns 6,003 shares of the company’s stock worth $225,000 after purchasing an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Wall Street Analyst Weigh In

LASR has been the topic of a number of recent analyst reports. Craig Hallum raised their price target on shares of nLight from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Needham & Company LLC boosted their price objective on shares of nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, UBS Group set a $90.00 price target on shares of nLight in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.94.

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.