nLight (NASDAQ:LASR) CEO Sells $120,825.08 in Stock

nLight (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 6,316 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $19.13, for a total value of $120,825.08. Following the sale, the chief executive officer now owns 1,240,222 shares of the company's stock, valued at $23,725,446.86. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

nLight Price Performance

NASDAQ:LASR traded up $0.20 during trading hours on Monday, hitting $17.60. The company's stock had a trading volume of 1,369,117 shares, compared to its average volume of 420,618. The business's 50-day moving average is $12.86 and its two-hundred day moving average is $10.87. The company has a market capitalization of $870.14 million, a PE ratio of -15.58 and a beta of 2.26. 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 has a 52-week low of $6.20 and a 52-week high of $19.44.

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 the consensus estimate 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 in the prior year, the business posted ($0.17) earnings per share. nLight's revenue was up 16.2% compared to the same quarter last year. As a group, research analysts anticipate that nLight will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in shares of nLight by 47.4% in the fourth quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company's stock valued at $30,000 after buying an additional 935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 valued at $277,000 after buying an additional 1,140 shares in the last quarter. XTX Topco Ltd increased its position in shares of nLight by 7.2% in the fourth quarter. XTX Topco Ltd now owns 24,522 shares of the company's stock valued at $257,000 after buying an additional 1,641 shares in the last quarter. Swiss National Bank increased its position in shares of nLight by 1.9% in the fourth quarter. Swiss National Bank now owns 90,000 shares of the company's stock valued at $944,000 after buying an additional 1,700 shares in the last quarter. Finally, Quantbot Technologies LP increased 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 buying an additional 1,772 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LASR. Needham & Company LLC upped their price target on nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a research note 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.70.

nLight Company Profile

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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