nLight (NASDAQ:LASR) CEO Sells $657,809.46 in Stock

nLight (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 33,682 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $19.53, for a total value of $657,809.46. Following the sale, the chief executive officer owned 1,206,540 shares of the company's stock, valued at $23,563,726.20. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

nLight Stock Performance

Shares of LASR stock traded down $0.54 on Tuesday, hitting $19.14. 783,745 shares of the stock traded hands, compared to its average volume of 436,479. The company's fifty day moving average is $14.04 and its 200 day moving average is $11.15. nLight has a 1-year low of $6.20 and a 1-year high of $19.99. The company has a market capitalization of $946.26 million, a PE ratio of -16.94 and a beta of 2.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.81 and a quick ratio of 4.63.

nLight (NASDAQ:LASR - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.13. nLight had a negative net margin of 26.80% and a negative return on equity of 22.23%. The firm had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm's revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities research analysts predict that nLight will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On nLight

A number of large investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in shares of nLight during the 1st quarter worth approximately $371,000. Jane Street Group LLC grew its stake in nLight by 622.7% during the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company's stock worth $600,000 after buying an additional 66,518 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in nLight by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company's stock worth $214,000 after buying an additional 1,170 shares during the last quarter. Invenomic Capital Management LP acquired a new stake in nLight in the first quarter worth $6,763,000. Finally, Cinctive Capital Management LP lifted its stake in nLight by 228.8% in the first quarter. Cinctive Capital Management LP now owns 412,555 shares of the company's stock valued at $3,206,000 after buying an additional 287,079 shares during the last quarter. Institutional investors own 83.88% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LASR. Craig Hallum restated a "buy" rating and issued a $24.00 price target (up previously from $14.00) on shares of nLight in a research note on Thursday, June 26th. Needham & Company LLC raised their price objective on shares of nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $17.70.

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.