nLight (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 6,316 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $19.13, for a total value of $120,825.08. Following the completion of the sale, the chief executive officer now owns 1,240,222 shares of the company's stock, valued at approximately $23,725,446.86. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
nLight Stock Up 7.1%
Shares of nLight stock traded up $1.30 during trading hours on Thursday, hitting $19.59. 1,179,293 shares of the company's stock traded hands, compared to its average volume of 430,833. The stock has a 50 day simple moving average of $13.54 and a 200-day simple moving average of $11.03. The company has a quick ratio of 4.63, a current ratio of 5.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $968.53 million, a PE ratio of -17.34 and a beta of 2.27. nLight has a twelve month low of $6.20 and a twelve month high of $19.94.
nLight (NASDAQ:LASR - Get Free Report) last announced 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. The company had revenue of $51.67 million during the quarter, compared to the consensus estimate of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The company's revenue was up 16.2% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. Equities research analysts anticipate that nLight will post -1.1 earnings per share for the current fiscal year.
Institutional Trading of nLight
Large investors have recently modified their holdings of the business. Senvest Management LLC lifted its position in shares of nLight by 114.1% during the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock worth $26,033,000 after purchasing an additional 1,322,637 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of nLight during the first quarter worth about $6,763,000. Segall Bryant & Hamill LLC lifted its position in shares of nLight by 140.4% during the first quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock worth $9,383,000 after purchasing an additional 705,215 shares during the last quarter. Needham Investment Management LLC lifted its position in shares of 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 purchasing an additional 314,375 shares during the last quarter. Finally, AWM Investment Company Inc. lifted its position in shares of nLight by 29.5% during the first quarter. AWM Investment Company Inc. now owns 1,319,917 shares of the company's stock worth $10,256,000 after purchasing an additional 300,924 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
LASR has been the subject of several recent research reports. Craig Hallum reiterated a "buy" rating and issued a $24.00 price target (up from $14.00) on shares of nLight in a report on Thursday. Needham & Company LLC raised their target price on nLight from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $17.70.
Read Our Latest Analysis on LASR
nLight Company Profile
(
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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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