nLight (NASDAQ:LASR) Director Sells $171,179.40 in Stock

nLight (NASDAQ:LASR) Director Geoffrey Moore sold 4,452 shares of nLight stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $38.45, for a total value of $171,179.40. Following the completion of the transaction, the director directly owned 85,717 shares in the company, valued at $3,295,818.65. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Trading Down 0.3%

LASR stock traded down $0.13 during midday trading on Thursday, hitting $38.43. The company had a trading volume of 840,594 shares, compared to its average volume of 1,427,011. nLight has a 52 week low of $27.79 and a 52 week high of $86.95. The stock’s 50 day moving average price is $55.40 and its 200 day moving average price is $63.55. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -153.72 and a beta of 2.30.

nLight (NASDAQ:LASR) last released 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 firm had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. Analysts predict that nLight will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group set a $90.00 price objective on shares of nLight in a research note on Friday, July 10th. Wall Street Zen downgraded nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Stifel Nicolaus increased their price objective on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Craig Hallum lifted their price objective on nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.94.

Institutional Trading of nLight

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in nLight by 2,995.5% during the second quarter. Tidal Investments LLC now owns 406,624 shares of the company’s stock valued at $28,309,000 after buying an additional 393,488 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of nLight during the second quarter valued at $175,000. Arizona State Retirement System raised its position in shares of nLight by 10.4% in the 2nd quarter. Arizona State Retirement System now owns 14,625 shares of the company’s stock worth $1,018,000 after purchasing an additional 1,373 shares during the last quarter. Nykredit A S bought a new position in nLight in the 2nd quarter worth about $131,000. Finally, Corient Private Wealth LP purchased a new stake in nLight during the 2nd quarter valued at about $357,000. 83.88% of the stock is owned by institutional investors.

About nLight

nLight, Inc is a photonics company that develops and manufactures high-power semiconductor and fiber lasers, as well as related components and laser systems. Its products are designed for applications that require precise, high-intensity light and are used across industrial, microfabrication, aerospace and defense markets.

The company’s product portfolio includes semiconductor laser diodes, fiber lasers, and advanced laser systems. nLight also develops components and technologies intended to improve laser performance, reliability, beam quality and control.