nLight (NASDAQ:LASR) CEO Sells $8,024,262.50 in Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 181,750 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $44.15, for a total value of $8,024,262.50. Following the sale, the chief executive officer owned 2,185,039 shares in the company, valued at $96,469,471.85. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Performance

LASR stock traded down $0.81 during mid-day trading on Tuesday, reaching $43.30. 1,653,714 shares of the stock traded hands, compared to its average volume of 1,462,527. nLight has a one year low of $27.22 and a one year high of $86.95. The stock has a market capitalization of $2.50 billion, a PE ratio of -173.20 and a beta of 2.31. The business has a 50-day moving average price of $62.85 and a two-hundred day moving average price of $65.08.

nLight (NASDAQ:LASR) last released its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The firm had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. During the same quarter last year, the business earned $0.06 EPS. The business’s revenue was up 33.8% on a year-over-year basis. On average, equities analysts expect that nLight will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of nLight

Several institutional investors and hedge funds have recently modified their holdings of LASR. Osaic Holdings Inc. boosted its holdings 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 valued at $36,000 after purchasing an additional 1,727 shares during the period. Sunbelt Securities Inc. increased its holdings in nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC raised its position in nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares in the last quarter. Wexford Capital LP bought a new stake in nLight during the 3rd quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings 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 buying an additional 1,102 shares during the period. Institutional investors own 83.88% of the company’s stock.

Analyst Ratings Changes

LASR has been the subject of several recent analyst reports. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. Stifel Nicolaus raised their price target on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Craig Hallum upped their price objective on nLight from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, UBS Group set a $90.00 target price on nLight in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.