nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney Sells 75,000 Shares

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 75,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $15.33, for a total value of $1,149,750.00. Following the completion of the transaction, the chief executive officer now owns 1,342,927 shares of the company's stock, valued at approximately $20,587,070.91. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

nLIGHT Trading Up 2.8%

NASDAQ LASR traded up $0.44 during trading on Tuesday, reaching $16.03. 447,724 shares of the company's stock were exchanged, compared to its average volume of 377,771. The company's fifty day simple moving average is $9.71 and its 200-day simple moving average is $10.15. The firm has a market capitalization of $792.51 million, a PE ratio of -15.56 and a beta of 2.02. nLIGHT, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $16.21.

nLIGHT (NASDAQ:LASR - Get Free Report) last posted its earnings results 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. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The firm had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The company's revenue was up 16.2% compared to the same quarter last year. Equities analysts forecast that nLIGHT, Inc. will post -1.1 EPS for the current fiscal year.

Institutional Investors Weigh In On nLIGHT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of nLIGHT in the 1st quarter worth approximately $371,000. Jane Street Group LLC lifted its position in nLIGHT by 622.7% in the first quarter. Jane Street Group LLC now owns 77,201 shares of the company's stock worth $600,000 after purchasing an additional 66,518 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in nLIGHT by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company's stock worth $214,000 after buying an additional 1,170 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of nLIGHT in the 1st quarter valued at $6,763,000. Finally, Cinctive Capital Management LP lifted its holdings in shares of nLIGHT by 228.8% during the 1st quarter. Cinctive Capital Management LP now owns 412,555 shares of the company's stock worth $3,206,000 after acquiring an additional 287,079 shares during the period. Institutional investors and hedge funds own 83.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Needham & Company LLC increased their target price 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 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, nLIGHT presently has a consensus rating of "Buy" and an average price target of $15.70.

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.