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

Key Points

• Director Geoffrey Moore sold 4,452 nLight shares for approximately $153,906 at an average price of $34.57 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 5.19% to 81,265 shares.
• nLight shares recently traded at $34.79, well below their 52-week high of $86.95, while the company posted quarterly revenue of $82.59 million and EPS of $0.15, exceeding analyst estimates.
• Institutional investors own 83.88% of nLight, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $86.50.

nLight (NASDAQ:LASR - Get Free Report) Director Geoffrey Moore sold 4,452 shares of nLight stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $34.57, for a total value of $153,905.64. Following the transaction, the director owned 81,265 shares of the company's stock, valued at $2,809,331.05. This represents a 5.19% decrease in their ownership of the stock. The sale 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.

Geoffrey Moore also recently made the following trade(s):

• On Tuesday, September 15th, Geoffrey Moore sold 4,452 shares of nLight stock. The stock was sold at an average price of $38.45, for a total value of $171,179.40.

nLight Stock Performance

LASR traded up $1.12 during trading hours on Monday, reaching $34.79. The company's stock had a trading volume of 839,546 shares, compared to its average volume of 1,370,807. nLight has a 52 week low of $28.05 and a 52 week high of $86.95. The company's 50-day moving average is $42.00 and its 200-day moving average is $59.51. The firm has a market cap of $2.01 billion, a PE ratio of -139.16 and a beta of 2.37.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) 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 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 posted $0.06 EPS. The company's quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts anticipate that nLight will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On nLight

A number of hedge funds and other institutional investors have recently modified their holdings of LASR. BlackRock Inc. bought a new position in nLight in the second quarter valued at approximately $339,687,000. AWM Investment Company Inc. bought a new stake in nLight during the second quarter worth $65,374,000. Assenagon Asset Management S.A. boosted its holdings in shares of nLight by 743.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 422,295 shares of the company's stock valued at $16,446,000 after purchasing an additional 372,199 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of nLight by 2,995.5% in the 2nd quarter. Tidal Investments LLC now owns 406,624 shares of the company's stock valued at $28,309,000 after purchasing an additional 393,488 shares in the last quarter. Finally, Tema ETFs LLC boosted its holdings in shares of nLight by 84,128.8% in the 2nd quarter. Tema ETFs LLC now owns 394,191 shares of the company's stock valued at $27,444,000 after purchasing an additional 393,723 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Analysts Set New Price Targets

LASR has been the topic of a number of research reports. Craig Hallum upped their price target 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. Wall Street Zen downgraded shares of nLight from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Northcoast Research set a $75.00 price objective on nLight and gave the stock a "buy" rating in a report on Wednesday, October 7th. Needham & Company LLC boosted 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. Finally, UBS Group set a $90.00 target price on nLight in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.50.

About nLight

nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.

The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.

Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.

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