nLight (NASDAQ:LASR) Shares Down 4.1% After Insider Selling

nLight (NASDAQ:LASR - Get Free Report) fell 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. 418,791 shares traded hands during trading, an increase of 2% from the average session volume of 409,309 shares. The stock had previously closed at $18.94.

Specifically, CFO Joseph John Corso sold 10,062 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $17.62, for a total value of $177,292.44. Following the completion of the sale, the chief financial officer now owns 166,362 shares in the company, valued at $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Needham & Company LLC raised their price objective 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 target price for the company in a research report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nLight presently has a consensus rating of "Buy" and an average target price of $15.70.

nLight Trading Down 4.1%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.63 and a current ratio of 5.81. The stock has a 50-day moving average price of $12.01 and a 200-day moving average price of $10.68. The stock has a market cap of $897.98 million, a P/E ratio of -16.12 and a beta of 2.27.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.13. The firm had revenue of $51.67 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned ($0.17) EPS. On average, equities research analysts expect that nLight will post -1.1 EPS for the current year.

Hedge Funds Weigh In On nLight

Several hedge funds have recently made changes to their positions in the business. Picton Mahoney Asset Management lifted 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 valued at $30,000 after buying an additional 935 shares during the period. GAMMA Investing LLC increased its position in shares of nLight by 6,563.0% during the first quarter. GAMMA Investing LLC now owns 4,864 shares of the company's stock valued at $38,000 after acquiring an additional 4,791 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in nLight by 3,951.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company's stock worth $39,000 after acquiring an additional 3,596 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in nLight during the 4th quarter valued at $102,000. Finally, State of Wyoming boosted its stake in nLight by 110.6% during the 1st quarter. State of Wyoming now owns 14,762 shares of the company's stock valued at $115,000 after purchasing an additional 7,754 shares during the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

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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