Insider Selling: nLight (NASDAQ:LASR) CEO Sells 30,939 Shares of Stock

nLight (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 30,939 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $19.18, for a total value of $593,410.02. Following the sale, the chief executive officer now owns 1,246,538 shares of the company's stock, valued at approximately $23,908,598.84. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

nLight Price Performance

NASDAQ:LASR traded down $0.97 during trading hours on Friday, hitting $17.40. The company's stock had a trading volume of 1,468,294 shares, compared to its average volume of 417,150. nLight has a twelve month low of $6.20 and a twelve month high of $19.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.81 and a quick ratio of 4.63. The stock has a fifty day simple moving average of $12.65 and a 200-day simple moving average of $10.83. The company has a market capitalization of $860.26 million, a P/E ratio of -15.40 and a beta of 2.27.

nLight (NASDAQ:LASR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share (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 net margin of 26.80% and a negative return on equity of 22.23%. The firm's quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) EPS. On average, analysts anticipate that nLight will post -1.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LASR shares. Needham & Company LLC raised their price target on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Craig Hallum raised shares of nLight from a "hold" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $15.70.

Institutional Investors Weigh In On nLight

Several hedge funds have recently modified their holdings of LASR. Senvest Management LLC boosted its holdings in shares of nLight by 114.1% during the 4th quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock valued at $26,033,000 after acquiring an additional 1,322,637 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of nLight during the 1st quarter valued at $6,763,000. Segall Bryant & Hamill LLC boosted its position in nLight by 140.4% during 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 during the period. Needham Investment Management LLC grew its holdings in nLight by 13.4% during the 4th quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock worth $27,821,000 after acquiring an additional 314,375 shares during the last quarter. Finally, AWM Investment Company Inc. increased its position in nLight by 29.5% in the 1st quarter. AWM Investment Company Inc. now owns 1,319,917 shares of the company's stock valued at $10,256,000 after acquiring an additional 300,924 shares during the period. Institutional investors and hedge funds own 83.88% of the company's stock.

About nLight

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.