nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 40,680 shares of nLIGHT stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $16.07, for a total transaction of $653,727.60. Following the completion of the sale, the chief executive officer now owns 1,281,540 shares of the company's stock, valued at $20,594,347.80. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
nLIGHT Price Performance
Shares of NASDAQ:LASR traded up $0.94 during midday trading on Wednesday, hitting $17.30. The company had a trading volume of 1,087,888 shares, compared to its average volume of 384,368. The company has a market cap of $855.29 million, a price-to-earnings ratio of -16.80 and a beta of 2.02. nLIGHT, Inc. has a 12-month low of $6.20 and a 12-month high of $17.71. The company has a fifty day moving average of $10.05 and a two-hundred day moving average of $10.24.
nLIGHT (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. The business had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. The business's quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Research analysts expect that nLIGHT, Inc. will post -1.1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On nLIGHT
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Senvest Management LLC increased its stake in shares of nLIGHT by 114.1% in the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock worth $26,033,000 after purchasing an additional 1,322,637 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in nLIGHT in the 1st quarter worth $6,763,000. Segall Bryant & Hamill LLC increased its stake in nLIGHT by 140.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock worth $9,383,000 after buying an additional 705,215 shares in the last quarter. Needham Investment Management LLC increased its stake in nLIGHT by 13.4% in the 4th quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock worth $27,821,000 after buying an additional 314,375 shares in the last quarter. Finally, AWM Investment Company Inc. increased its stake in nLIGHT by 29.5% in the 1st quarter. AWM Investment Company Inc. now owns 1,319,917 shares of the company's stock worth $10,256,000 after buying an additional 300,924 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have commented on LASR shares. Needham & Company LLC lifted their target price on shares of nLIGHT from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Craig Hallum upgraded nLIGHT from a "hold" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Friday, May 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nLIGHT currently has an average rating of "Buy" and an average target price of $15.70.
View Our Latest Research Report on LASR
nLIGHT Company Profile
(
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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.
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