nLight (NASDAQ:LASR) CEO Scott H. Keeney Sells 4,063 Shares

nLight (NASDAQ:LASR) CEO Scott H. Keeney sold 4,063 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $19.01, for a total value of $77,237.63. Following the sale, the chief executive officer now directly owns 1,277,477 shares of the company’s stock, valued at approximately $24,284,837.77. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

nLight Trading Down 5.3%

Shares of NASDAQ LASR opened at $17.40 on Friday. The business has a fifty day simple moving average of $12.65 and a 200-day simple moving average of $10.83. The company has a market cap of $860.26 million, a price-to-earnings ratio of -15.40 and a beta of 2.27. The company has a quick ratio of 4.63, a current ratio of 5.81 and a debt-to-equity ratio of 0.09. nLight has a 12 month low of $6.20 and a 12 month high of $19.44.

nLight (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.13. The firm had revenue of $51.67 million during the quarter, compared to the consensus estimate of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. Sell-side analysts predict that nLight will post -1.1 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Craig Hallum raised nLight from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, May 9th. Needham & Company LLC upped their target price on nLight from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $15.70.

Institutional Investors Weigh In On nLight

Several hedge funds have recently bought and sold shares of LASR. Picton Mahoney Asset Management lifted its stake in nLight by 47.4% in the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock worth $30,000 after acquiring an additional 935 shares in the last quarter. GAMMA Investing LLC lifted its stake in nLight by 6,563.0% in the 1st quarter. GAMMA Investing LLC now owns 4,864 shares of the company’s stock worth $38,000 after acquiring an additional 4,791 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in nLight by 3,951.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock worth $39,000 after acquiring an additional 3,596 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in nLight in the 4th quarter worth about $102,000. Finally, State of Wyoming lifted its stake in nLight by 110.6% in the 1st quarter. State of Wyoming now owns 14,762 shares of the company’s stock worth $115,000 after acquiring an additional 7,754 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

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.