nLight (NASDAQ:LASR) CEO Scott Keeney Sells 181,750 Shares of Stock

Key Points

• CEO Scott Keeney sold 181,750 nLight shares at an average price of $46.88, generating approximately $8.52 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his stake by 7.68% to 2.19 million shares.
• nLight shares fell 1.8% to $43.30, well below their 50-day and 200-day moving averages. The stock has traded between $27.22 and $86.95 over the past year.
• The company recently exceeded quarterly expectations, reporting $0.15 in EPS and $82.59 million in revenue, with revenue up 33.8% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $87.94.

nLight (NASDAQ:LASR - Get Free Report) CEO Scott Keeney sold 181,750 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $46.88, for a total transaction of $8,520,440.00. Following the transaction, the chief executive officer owned 2,185,039 shares of the company's stock, valued at $102,434,628.32. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Down 1.8%

Shares of NASDAQ LASR traded down $0.81 during midday trading on Tuesday, hitting $43.30. The company had a trading volume of 1,653,714 shares, compared to its average volume of 1,462,527. The business has a 50-day simple moving average of $62.85 and a two-hundred day simple moving average of $65.08. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -173.20 and a beta of 2.31. nLight has a twelve month low of $27.22 and a twelve month high of $86.95.

nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $82.59 million during the quarter, compared to the consensus estimate of $78.58 million. During the same quarter in the prior year, the company posted $0.06 EPS. The company's quarterly revenue was up 33.8% compared to the same quarter last year. On average, equities analysts forecast that nLight will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of nLight in a report on Friday, July 17th. Zacks Research cut nLight from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Needham & Company LLC upped their price objective on nLight from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Wall Street Zen cut nLight from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Stifel Nicolaus increased their price target on shares of nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, nLight has a consensus rating of "Moderate Buy" and an average target price of $87.94.

Institutional Investors Weigh In On nLight

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. raised its position in nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after acquiring an additional 1,727 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock valued at $40,000 after purchasing an additional 647 shares during the period. Wexford Capital LP bought a new stake in nLight during the third quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock worth $42,000 after buying an additional 1,102 shares in the last quarter. 83.88% of the stock is owned by 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. 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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