Key Points
- nLight CEO Scott Keeney sold 41,371 shares on May 29 at an average price of $73.36, totaling about $3.03 million. After the sale, he still owned 2.21 million shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- The stock fell 4.8% and opened at $70.58, while nLight remained well above its 52-week low of $15.05 and below its 52-week high of $86.95. The company’s market cap is about $3.98 billion.
- nLight beat quarterly expectations with EPS of $0.20 versus $0.08 expected and revenue of $80.18 million, up 55.2% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $69.06.
nLight (NASDAQ:LASR - Get Free Report) CEO Scott Keeney sold 41,371 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.36, for a total value of $3,034,976.56. Following the sale, the chief executive officer owned 2,210,029 shares of the company's stock, valued at approximately $162,127,727.44. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
nLight Trading Down 4.8%
Shares of NASDAQ:LASR opened at $70.58 on Tuesday. nLight has a 1 year low of $15.05 and a 1 year high of $86.95. The business has a fifty day simple moving average of $69.93 and a 200 day simple moving average of $54.09. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -235.26 and a beta of 2.34.
nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) 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 business had revenue of $80.18 million during the quarter, compared to analyst estimates of $72.14 million. During the same period last year, the company earned ($0.04) earnings per share. nLight's quarterly revenue was up 55.2% compared to the same quarter last year. On average, sell-side analysts forecast that nLight will post -0.17 EPS for the current year.
Wall Street Analyst Weigh In
LASR has been the subject of several recent research reports. Raymond James Financial reiterated a "strong-buy" rating and set a $100.00 price objective on shares of nLight in a report on Friday, May 8th. William Blair started coverage on nLight in a report on Friday, March 27th. They set an "outperform" rating on the stock. Roth Mkm restated a "buy" rating and set a $81.00 target price on shares of nLight in a report on Friday, April 24th. Weiss Ratings restated a "sell (d-)" rating on shares of nLight in a report on Tuesday, April 21st. Finally, Robert W. Baird started coverage on nLight in a report on Wednesday, March 4th. They set an "outperform" rating and a $95.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.06.
Check Out Our Latest Stock Report on nLight
Hedge Funds Weigh In On nLight
Institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. bought a new position in shares of nLight in the first quarter worth about $52,000. Sunbelt Securities Inc. increased its stake in shares of nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of nLight by 155.9% in 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 period. Financial Consulate Inc. bought a new position in shares of nLight in the fourth quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of nLight by 7,871.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock worth $42,000 after purchasing an additional 1,102 shares during the period. 83.88% of the stock is currently owned by institutional investors.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
