nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney Sells 15,000 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total value of $166,650.00. Following the completion of the sale, the chief executive officer now directly owns 1,347,781 shares in the company, valued at approximately $14,973,846.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

nLIGHT Stock Down 1.9 %

Shares of NASDAQ:LASR opened at $10.83 on Friday. The business’s 50 day moving average price is $11.00 and its 200-day moving average price is $11.73. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.00.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $50.51 million for the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) earnings per share. As a group, equities research analysts anticipate that nLIGHT, Inc. will post -0.98 EPS for the current year.

Institutional Investors Weigh In On nLIGHT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its position in nLIGHT by 9.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock valued at $181,000 after purchasing an additional 1,220 shares during the period. ProShare Advisors LLC raised its position in nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after purchasing an additional 1,503 shares during the period. The Manufacturers Life Insurance Company raised its position in nLIGHT by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock valued at $204,000 after purchasing an additional 1,546 shares during the period. Price T Rowe Associates Inc. MD raised its position in nLIGHT by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock valued at $172,000 after purchasing an additional 1,886 shares during the period. Finally, Squarepoint Ops LLC raised its position in nLIGHT by 6.7% in the second quarter. Squarepoint Ops LLC now owns 52,823 shares of the company’s stock valued at $577,000 after purchasing an additional 3,332 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Analyst Upgrades and Downgrades

LASR has been the topic of several research analyst reports. Benchmark reissued a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of nLIGHT in a research note on Monday, August 5th. Finally, Cantor Fitzgerald began coverage on nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target on the 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.