nLight (NASDAQ:LASR) Director Geoffrey Moore Sells 4,452 Shares of Stock

nLight (NASDAQ:LASR) Director Geoffrey Moore sold 4,452 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $38.45, for a total transaction of $171,179.40. Following the completion of the sale, the director owned 85,717 shares in the company, valued at approximately $3,295,818.65. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Trading Down 0.3%

Shares of NASDAQ LASR opened at $38.43 on Friday. nLight has a 12-month low of $27.79 and a 12-month high of $86.95. The firm’s 50-day moving average price is $54.68 and its 200-day moving average price is $63.43. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -153.72 and a beta of 2.30.

nLight (NASDAQ:LASR) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The company had revenue of $82.59 million during the quarter, compared to analyst estimates of $78.58 million. During the same quarter last year, the business posted $0.06 earnings per share. The firm’s revenue was up 33.8% on a year-over-year basis. On average, equities analysts predict that nLight will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LASR. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. UBS Group set a $90.00 price objective on shares of nLight in a research report on Friday, July 10th. Stifel Nicolaus increased their target price on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.94.

Hedge Funds Weigh In On nLight

A number of large investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new position in nLight in the 1st quarter valued at $52,000. EverSource Wealth Advisors LLC lifted its position in shares of nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after purchasing an additional 647 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after purchasing an additional 1,102 shares during the period. Allworth Financial LP purchased a new stake in shares of nLight during the second quarter valued at $81,000. Finally, Ascentis Independent Advisors bought a new position in shares of nLight in the first quarter worth about $70,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

About nLight

nLight, Inc is a photonics company that develops and manufactures high-power semiconductor and fiber lasers, as well as related components and laser systems. Its products are designed for applications that require precise, high-intensity light and are used across industrial, microfabrication, aerospace and defense markets.

The company’s product portfolio includes semiconductor laser diodes, fiber lasers, and advanced laser systems. nLight also develops components and technologies intended to improve laser performance, reliability, beam quality and control.