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 stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $19.53, for a total value of $657,809.46. Following the completion of the transaction, the chief executive officer owned 1,206,540 shares of the company's stock, valued at $23,563,726.20. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

nLight Stock Up 0.3%

nLight stock traded up $0.06 during trading hours on Thursday, hitting $19.70. The company had a trading volume of 357,015 shares, compared to its average volume of 439,330. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $20.17. 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 firm has a market capitalization of $973.97 million, a P/E ratio of -17.43 and a beta of 2.33. The firm's fifty day moving average is $14.77 and its 200-day moving average is $11.32.

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, beating analysts' consensus estimates of ($0.17) by $0.13. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The firm had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The business's revenue for the quarter was up 16.2% on a year-over-year basis. On average, research analysts forecast that nLight will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On nLight

Hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its position in nLight by 47.4% during the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock worth $30,000 after buying an additional 935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of nLight by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company's stock worth $277,000 after buying an additional 1,140 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of nLight by 7.2% during the 4th quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock worth $257,000 after buying an additional 1,641 shares during the period. Swiss National Bank raised its holdings in nLight by 1.9% in the 4th quarter. Swiss National Bank now owns 90,000 shares of the company's stock worth $944,000 after acquiring an additional 1,700 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of nLight by 17.6% in the fourth quarter. Quantbot Technologies LP now owns 11,864 shares of the company's stock valued at $124,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on LASR shares. Craig Hallum reissued a "buy" rating and set a $24.00 target price (up from $14.00) on shares of nLight in a research note on Thursday, June 26th. Needham & Company LLC upped their price target on nLight from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.