Geoffrey Moore Sells 4,452 Shares of nLight (NASDAQ:LASR) Stock

Key Points

• nLight Director Geoffrey Moore sold 4,452 shares for approximately $171,179 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 4.94% to 85,717 shares.
• LASR recently traded at $38.43, near the lower end of its 12-month range, while the company reported quarterly revenue of $82.59 million, up 33.8% year over year, and earnings of $0.15 per share—above estimates.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $87.94; institutional investors own 83.88% of nLight’s shares.

nLight (NASDAQ:LASR - Get Free Report) Director Geoffrey Moore sold 4,452 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $38.45, for a total value of $171,179.40. Following the sale, the director owned 85,717 shares in the company, valued at approximately $3,295,818.65. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Down 0.3%

LASR traded down $0.13 during trading on Thursday, reaching $38.43. 840,594 shares of the company were exchanged, compared to its average volume of 1,427,011. nLight has a 12-month low of $27.79 and a 12-month high of $86.95. The company's 50-day moving average is $55.40 and its two-hundred day moving average is $63.55. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -153.72 and a beta of 2.30.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The firm had revenue of $82.59 million for the quarter, compared to analysts' expectations of $78.58 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company's revenue was up 33.8% on a year-over-year basis. Equities analysts forecast that nLight will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LASR has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on shares of nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Needham & Company LLC raised their price objective on shares of nLight from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of nLight in a report on Friday, July 17th. UBS Group set a $90.00 target price on shares of nLight in a research report on Friday, July 10th. Finally, Zacks Research cut nLight from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.94.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LASR. Quantinno Capital Management LP raised its position in nLight by 0.7% in the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company's stock worth $2,384,000 after purchasing an additional 281 shares during the period. ProShare Advisors LLC boosted its position in nLight by 2.7% during the fourth quarter. ProShare Advisors LLC now owns 13,745 shares of the company's stock valued at $516,000 after buying an additional 358 shares during the period. EverSource Wealth Advisors LLC boosted its position in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after buying an additional 647 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of nLight during the first quarter valued at about $52,000. Finally, NewEdge Advisors LLC increased its holdings in shares of nLight by 17.3% in the first quarter. NewEdge Advisors LLC now owns 7,039 shares of the company's stock worth $401,000 after buying an additional 1,036 shares during the period. 83.88% of the stock is owned by hedge funds and other institutional investors.

About nLight

nLight, Inc is a photonics company that develops and manufactures high-power semiconductor and fiber lasers, as well as related components and laser systems. Its products are designed for applications that require precise, high-intensity light and are used across industrial, microfabrication, aerospace and defense markets.

The company's product portfolio includes semiconductor laser diodes, fiber lasers, and advanced laser systems. nLight also develops components and technologies intended to improve laser performance, reliability, beam quality and control.

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