nLight (NASDAQ:LASR) CEO Scott Keeney Sells 100,000 Shares of Stock

by · The Cerbat Gem

nLight (NASDAQ:LASR – Get Free Report) CEO Scott Keeney sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $41.01, for a total transaction of $4,101,000.00. Following the completion of the sale, the chief executive officer owned 1,960,034 shares of the company’s stock, valued at $80,380,994.34. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Trading Down 4.1%

Shares of NASDAQ:LASR opened at $39.29 on Friday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -157.16 and a beta of 2.30. nLight has a 12 month low of $27.22 and a 12 month high of $86.95. The firm’s 50-day moving average is $57.22 and its 200 day moving average is $64.12.

nLight (NASDAQ:LASR – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The business had revenue of $82.59 million during the quarter, compared to the consensus estimate of $78.58 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts forecast that nLight will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LASR. Needham & Company LLC raised their price target on nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research report on Friday, July 17th. Wall Street Zen downgraded nLight from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Craig Hallum boosted their target price on shares of nLight from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.94.

Check Out Our Latest Stock Report on LASR

Institutional Trading of nLight

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in nLight by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after purchasing an additional 1,170 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of nLight by 622.7% in the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after buying an additional 66,518 shares during the period. Rhumbline Advisers grew its position in shares of nLight by 8.4% during the 2nd quarter. Rhumbline Advisers now owns 75,545 shares of the company’s stock worth $1,487,000 after buying an additional 5,828 shares in the last quarter. American Century Companies Inc. grew its position in shares of nLight by 7.2% during the 2nd quarter. American Century Companies Inc. now owns 107,417 shares of the company’s stock worth $2,114,000 after buying an additional 7,179 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of nLight during the second quarter valued at $600,000. Institutional investors own 83.88% of the company’s stock.

nLight Company Profile

(Get Free Report)

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.

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