Scott H. Keeney Sells 40,680 Shares of nLIGHT, Inc. (NASDAQ:LASR) Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 40,680 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $16.07, for a total value of $653,727.60. Following the transaction, the chief executive officer now directly owns 1,281,540 shares in the company, valued at approximately $20,594,347.80. This represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

nLIGHT Stock Down 1.2%

Shares of NASDAQ:LASR opened at $17.60 on Friday. nLIGHT, Inc. has a 52-week low of $6.20 and a 52-week high of $18.49. The stock has a market cap of $870.13 million, a price-to-earnings ratio of -17.09 and a beta of 2.02. The business has a 50-day moving average price of $10.45 and a 200-day moving average price of $10.34.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.13. The company had revenue of $51.67 million during the quarter, compared to analysts’ expectations of $47.77 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. nLIGHT’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the business earned ($0.17) earnings per share. As a group, equities analysts anticipate that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on LASR shares. Needham & Company LLC increased their price objective on nLIGHT from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Craig Hallum raised nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nLIGHT presently has a consensus rating of “Buy” and an average target price of $15.70.

Institutional Trading of nLIGHT

Institutional investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its stake in shares of nLIGHT by 11.1% in the fourth quarter. Stifel Financial Corp now owns 159,648 shares of the company’s stock worth $1,675,000 after acquiring an additional 15,904 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of nLIGHT in the fourth quarter worth approximately $1,976,000. Bank of America Corp DE boosted its stake in shares of nLIGHT by 72.0% in the fourth quarter. Bank of America Corp DE now owns 209,644 shares of the company’s stock worth $2,199,000 after acquiring an additional 87,788 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of nLIGHT by 20.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company’s stock worth $9,932,000 after acquiring an additional 162,903 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of nLIGHT by 345.1% in the first quarter. Moody National Bank Trust Division now owns 48,757 shares of the company’s stock worth $379,000 after acquiring an additional 37,803 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

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.