Insider Selling: nLight (NASDAQ:LASR) CEO Sells 23,656 Shares of Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 23,656 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $60.53, for a total transaction of $1,431,897.68. Following the sale, the chief executive officer owned 2,229,125 shares in the company, valued at approximately $134,928,936.25. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

nLight Stock Up 4.0%

Shares of NASDAQ LASR traded up $2.36 on Monday, reaching $61.00. 1,689,616 shares of the company’s stock traded hands, compared to its average volume of 1,992,397. The business’s 50 day simple moving average is $49.25 and its two-hundred day simple moving average is $38.16. nLight has a 12 month low of $6.20 and a 12 month high of $69.52. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -129.79 and a beta of 2.27.

nLight (NASDAQ:LASR) last released its earnings results on Thursday, February 26th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. nLight had a negative return on equity of 9.28% and a negative net margin of 8.98%.The firm had revenue of $81.19 million for the quarter, compared to analysts’ expectations of $76.71 million. During the same period in the prior year, the firm posted ($0.30) earnings per share. The company’s quarterly revenue was up 71.3% on a year-over-year basis. Analysts forecast that nLight will post -1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its stake in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after acquiring an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. boosted its stake 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 last quarter. EverSource Wealth Advisors LLC boosted its stake in nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after purchasing an additional 647 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of nLight during the fourth quarter worth $41,000. Finally, Wexford Capital LP acquired a new stake in nLight in the 3rd quarter valued at about $41,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Roth Mkm boosted their price target on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Stifel Nicolaus assumed coverage on shares of nLight in a report on Tuesday, January 20th. They set a “buy” rating and a $60.00 price objective for the company. Needham & Company LLC increased their price objective on shares of nLight from $48.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 price objective on shares of nLight in a research report on Friday, February 27th. Finally, Robert W. Baird began coverage on shares of nLight in a research note on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.31.

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.