Insider Selling: nLight (NASDAQ:LASR) Director Sells 10,000 Shares of Stock

by · The Markets Daily

nLight (NASDAQ:LASR – Get Free Report) Director Raymond Link sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $62.79, for a total value of $627,900.00. Following the completion of the sale, the director directly owned 92,576 shares of the company’s stock, valued at approximately $5,812,847.04. This represents a 9.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

nLight Trading Down 0.3%

NASDAQ LASR traded down $0.17 on Friday, hitting $62.60. 1,059,219 shares of the stock traded hands, compared to its average volume of 2,115,248. The stock has a 50-day moving average of $51.32 and a 200 day moving average of $39.01. nLight has a twelve month low of $6.20 and a twelve month high of $69.52. The company has a market capitalization of $3.49 billion, a P/E ratio of -133.19 and a beta of 2.27.

nLight (NASDAQ:LASR – Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. nLight had a negative return on equity of 9.28% and a negative net margin of 8.98%.The company had revenue of $81.19 million during the quarter, compared to analyst estimates of $76.71 million. During the same quarter last year, the firm earned ($0.30) EPS. The business’s revenue was up 71.3% on a year-over-year basis. As a group, equities research analysts expect that nLight will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on LASR. Roth Mkm boosted their target price on shares of nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Cantor Fitzgerald lifted their price target on shares of nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a report on Friday, February 27th. Robert W. Baird began coverage on shares of nLight in a research report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.31.

Get Our Latest Stock Report on nLight

Institutional Investors Weigh In On nLight

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in nLight by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock valued at $214,000 after buying an additional 1,170 shares during the last quarter. Jane Street Group LLC grew its position in shares of nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after acquiring an additional 66,518 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of nLight by 100.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,049 shares of the company’s stock worth $2,756,000 after acquiring an additional 70,236 shares during the period. Acadian Asset Management LLC increased its holdings in shares of nLight by 50.7% in the 2nd quarter. Acadian Asset Management LLC now owns 468,749 shares of the company’s stock worth $9,223,000 after acquiring an additional 157,768 shares during the period. Finally, Geode Capital Management LLC lifted its position in nLight by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,215,479 shares of the company’s stock valued at $23,925,000 after purchasing an additional 68,436 shares during the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

About nLight

(Get Free Report)

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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.

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