nLight (NASDAQ:LASR) CEO Sells $8,024,262.50 in Stock

Key Points

• nLight CEO Scott Keeney sold 181,750 shares for approximately $8.02 million at an average price of $44.15 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 7.68%.
• nLight reported quarterly EPS of $0.15 versus the $0.14 consensus estimate, while revenue rose 33.8% year over year to $82.59 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $87.94.
• Shares recently traded at $43.30, well below the 50-day and 200-day moving averages of $62.85 and $65.08, respectively; institutional investors own 83.88% of the company.

nLight (NASDAQ:LASR - Get Free Report) CEO Scott Keeney sold 181,750 shares of nLight stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $44.15, for a total value of $8,024,262.50. Following the transaction, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $96,469,471.85. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Performance

Shares of NASDAQ LASR traded down $0.81 during midday trading on Tuesday, reaching $43.30. The stock had a trading volume of 1,653,714 shares, compared to its average volume of 1,462,527. The company 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 12-month low of $27.22 and a 12-month high of $86.95. The stock has a 50-day moving average of $62.85 and a 200-day moving average of $65.08.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. During the same quarter in the prior year, the business posted $0.06 EPS. nLight's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, analysts forecast that nLight will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On nLight

Several large investors have recently bought and sold shares of LASR. Osaic Holdings Inc. raised its stake in nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock valued at $36,000 after purchasing an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock valued at $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 647 shares during the last quarter. Wexford Capital LP purchased a new position in nLight in the third quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd grew its position in nLight by 7,871.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock worth $42,000 after acquiring an additional 1,102 shares in the last quarter. Institutional investors own 83.88% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group set a $90.00 price target on nLight in a research note on Friday, July 10th. Craig Hallum boosted their target price on shares of nLight from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Needham & Company LLC raised their target price on shares of nLight from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of nLight in a report on Friday, July 17th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 price target on shares of nLight in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.94.

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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