nLight (NASDAQ:LASR) CEO Scott Keeney Sells 15,371 Shares of Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 15,371 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $35.66, for a total transaction of $548,129.86. Following the completion of the sale, the chief executive officer directly owned 2,285,020 shares of the company’s stock, valued at $81,483,813.20. The trade was a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

nLight Price Performance

NASDAQ LASR opened at $36.44 on Friday. The company has a market cap of $1.85 billion, a PE ratio of -41.41 and a beta of 2.34. The firm’s 50 day moving average price is $31.85 and its 200-day moving average price is $25.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a 52-week low of $6.20 and a 52-week high of $38.62.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their target price on shares of nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Cantor Fitzgerald increased their price target on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Benchmark raised their price target on shares of nLight from $15.00 to $25.00 and gave the company a “speculative buy” rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, nLight currently has an average rating of “Buy” and an average target price of $32.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LASR. Vanguard Group Inc. boosted its holdings in nLight by 2.1% in the first quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company’s stock worth $28,495,000 after acquiring an additional 74,163 shares in the last quarter. Invesco Ltd. increased its holdings in shares of nLight by 14.6% during the first quarter. Invesco Ltd. now owns 59,298 shares of the company’s stock valued at $461,000 after acquiring an additional 7,570 shares in the last quarter. King Luther Capital Management Corp purchased a new position in shares of nLight in the 1st quarter valued at approximately $388,000. Nuveen LLC acquired a new stake in nLight in the 1st quarter worth approximately $888,000. Finally, Russell Investments Group Ltd. boosted its stake in nLight by 322.3% in the 1st quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock worth $121,000 after purchasing an additional 11,884 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

About nLight

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.