Key Points
- nLight CAO James Nias sold 1,565 shares on May 18 at an average price of $70.82, totaling about $110,833. The sale was disclosed in an SEC filing and was made to cover tax withholding tied to vested equity awards.
- Nias has been actively reducing his nLight stake, with additional sales reported on May 15, March 12, and March 5. After the latest transaction, he still held 100,594 shares worth roughly $7.12 million.
- nLight reported stronger-than-expected quarterly results, posting EPS of $0.20 versus estimates of $0.08 and revenue of $80.18 million, up 55.2% year over year. The stock was trading around $69.49, near its 50-day average of $68.02.
nLight (NASDAQ:LASR - Get Free Report) CAO James Nias sold 1,565 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $70.82, for a total value of $110,833.30. Following the completion of the sale, the chief accounting officer owned 100,594 shares in the company, valued at approximately $7,124,067.08. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Friday, May 15th, James Nias sold 1,487 shares of nLight stock. The shares were sold at an average price of $75.16, for a total value of $111,762.92.
- On Thursday, March 12th, James Nias sold 1,808 shares of nLight stock. The shares were 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 shares were sold at an average price of $61.96, for a total value of $201,308.04.
nLight Trading Down 1.9%
LASR opened at $69.49 on Wednesday. nLight has a 1-year low of $12.45 and a 1-year high of $86.95. The stock's fifty day simple moving average is $68.02 and its 200 day simple moving average is $51.29. The stock has a market cap of $3.92 billion, a PE ratio of -231.63 and a beta of 2.34.
nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $80.18 million for the quarter, compared to analysts' expectations of $72.14 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The firm's revenue for the quarter was up 55.2% on a year-over-year basis. Equities analysts forecast that nLight will post -0.39 earnings per share for the current year.
Institutional Investors Weigh In On nLight
Hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after buying an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 647 shares in the last quarter. Financial Consulate Inc. acquired a new stake in shares of nLight during the fourth quarter worth $41,000. Finally, Wexford Capital LP acquired a new stake in shares of nLight during the third quarter worth $41,000. Institutional investors and hedge funds own 83.88% of the company's stock.
Analyst Upgrades and Downgrades
LASR has been the topic of a number of research analyst reports. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 price target on shares of nLight in a research note on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of nLight in a research note on Tuesday, April 21st. Roth Mkm reissued a "buy" rating and set a $81.00 target price on shares of nLight in a report on Friday, April 24th. Needham & Company LLC lifted their target price on nLight from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Wall Street Zen raised nLight from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, nLight currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.81.
View Our Latest Research Report on LASR
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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