nLight (NASDAQ:LASR) Stock Price Down 4.1% Following Insider Selling

nLight (NASDAQ:LASR - Get Free Report)'s share price dropped 4.1% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $18.20 and last traded at $18.16. Approximately 418,791 shares were traded during trading, an increase of 2% from the average daily volume of 409,309 shares. The stock had previously closed at $18.94.

Specifically, CEO Scott H. Keeney sold 30,939 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $19.18, for a total transaction of $593,410.02. Following the sale, the chief executive officer now owns 1,246,538 shares of the company's stock, valued at approximately $23,908,598.84. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott H. Keeney sold 4,063 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $19.01, for a total transaction of $77,237.63. Following the sale, the chief executive officer now directly owns 1,277,477 shares in the company, valued at $24,284,837.77. This trade represents a 0.32% decrease in their position. The disclosure for this sale can be found here. In related news, CFO Joseph John Corso sold 10,062 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $17.62, for a total transaction of $177,292.44. Following the sale, the chief financial officer now owns 166,362 shares of the company's stock, valued at approximately $2,931,298.44. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Craig Hallum raised shares of nLight from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $15.70.

nLight Stock Down 5.3%

The company has a market cap of $860.26 million, a PE ratio of -15.40 and a beta of 2.27. The stock's 50 day moving average price is $12.65 and its 200-day moving average price is $10.83. 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 announced 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. The company had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. nLight had a negative net margin of 26.80% and a negative return on equity of 22.23%. The firm's revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, analysts predict that nLight will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On nLight

A number of large investors have recently added to or reduced their stakes in LASR. Senvest Management LLC grew its holdings in nLight by 114.1% in the 4th quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock worth $26,033,000 after acquiring an additional 1,322,637 shares during the last quarter. Invenomic Capital Management LP purchased a new stake in shares of nLight in the 1st quarter worth about $6,763,000. Segall Bryant & Hamill LLC lifted its position in shares of nLight by 140.4% in the 1st 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 period. Needham Investment Management LLC lifted its position in shares of nLight by 13.4% in the 4th 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 period. Finally, AWM Investment Company Inc. lifted its position in shares of nLight by 29.5% in the 1st 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 period. Institutional investors own 83.88% of the company's stock.

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.