Insider Selling: nLight (NASDAQ:LASR) CAO Sells 1,487 Shares of Stock

by · The Cerbat Gem

nLight (NASDAQ:LASR – Get Free Report) CAO James Nias sold 1,487 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $75.16, for a total value of $111,762.92. Following the sale, the chief accounting officer directly owned 101,744 shares of the company’s stock, valued at approximately $7,647,079.04. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Nias also recently made the following trade(s):

  • On Monday, May 18th, James Nias sold 1,565 shares of nLight stock. The stock was sold at an average price of $70.82, for a total value of $110,833.30.
  • On Thursday, March 12th, James Nias sold 1,808 shares of nLight stock. The stock was sold at an average price of $64.42, for a total value of $116,471.36.
  • On Thursday, March 5th, James Nias sold 3,249 shares of nLight stock. The stock was sold at an average price of $61.96, for a total value of $201,308.04.

nLight Stock Down 1.9%

Shares of NASDAQ LASR traded down $1.34 during mid-day trading on Tuesday, hitting $69.49. 997,065 shares of the company were exchanged, compared to its average volume of 1,332,100. The stock has a 50 day simple moving average of $68.02 and a 200-day simple moving average of $51.29. nLight has a 1-year low of $12.45 and a 1-year high of $86.95. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -231.63 and a beta of 2.34.

nLight (NASDAQ:LASR – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.12. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The firm had revenue of $80.18 million during the quarter, compared to the consensus estimate of $72.14 million. During the same period last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 55.2% on a year-over-year basis. Analysts anticipate that nLight will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LASR has been the subject of a number of recent analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 target price on shares of nLight in a report on Friday, May 8th. Robert W. Baird initiated coverage on nLight in a report on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 target price for the company. William Blair initiated coverage on nLight in a report on Friday, March 27th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Tuesday, April 21st. Finally, Needham & Company LLC raised their target price on nLight from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, nLight presently has an average rating of “Moderate Buy” and an average price target of $67.81.

Get Our Latest Research Report on LASR

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LASR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of nLight by 4.4% during the 1st 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 during the last quarter. Jane Street Group LLC increased its position in nLight by 622.7% during the 1st 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 in the last quarter. Rhumbline Advisers increased its position in nLight by 8.4% during the 2nd quarter. Rhumbline Advisers now owns 75,545 shares of the company’s stock worth $1,487,000 after purchasing an additional 5,828 shares in the last quarter. American Century Companies Inc. increased its position in nLight by 7.2% during the 2nd quarter. American Century Companies Inc. now owns 107,417 shares of the company’s stock worth $2,114,000 after purchasing an additional 7,179 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in nLight during the 2nd quarter worth about $600,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight Company Profile

(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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