nLight (NASDAQ:LASR) CEO Scott H. Keeney Sells 4,063 Shares

nLight (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 4,063 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $19.01, for a total value of $77,237.63. Following the completion of the transaction, the chief executive officer now directly owns 1,277,477 shares in the company, valued at approximately $24,284,837.77. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

nLight Stock Performance

Shares of nLight stock traded down $0.57 during trading on Wednesday, hitting $18.37. 866,579 shares of the company's stock were exchanged, compared to its average volume of 411,923. The stock has a market capitalization of $908.21 million, a price-to-earnings ratio of -16.26 and a beta of 2.27. The business has a 50-day simple moving average of $12.22 and a 200-day simple moving average of $10.74. nLight has a 52-week low of $6.20 and a 52-week high of $19.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81.

nLight (NASDAQ:LASR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share 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 business had revenue of $51.67 million during the quarter, compared to analyst estimates of $47.77 million. During the same quarter last year, the business posted ($0.17) EPS. The company's revenue was up 16.2% on a year-over-year basis. On average, research analysts forecast that nLight will post -1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

LASR has been the subject of a number of research reports. Needham & Company LLC lifted 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 nLight from a "hold" rating to a "buy" rating and set a $14.00 target price for the company in a report on Friday, May 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, nLight presently has a consensus rating of "Buy" and an average price target of $15.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of nLight by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company's stock worth $28,495,000 after purchasing an additional 74,163 shares during the period. Royce & Associates LP lifted its stake in shares of nLight by 5.4% in the 1st quarter. Royce & Associates LP now owns 3,034,044 shares of the company's stock valued at $23,575,000 after purchasing an additional 156,285 shares during the period. Needham Investment Management LLC boosted its holdings in nLight by 13.4% during the fourth 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. Senvest Management LLC grew its position in nLight by 114.1% during the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock valued at $26,033,000 after buying an additional 1,322,637 shares during the period. Finally, AWM Investment Company Inc. increased its holdings in nLight by 29.5% in the first quarter. AWM Investment Company Inc. now owns 1,319,917 shares of the company's stock valued at $10,256,000 after buying an additional 300,924 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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