Key Points
- nLight Director William Gossman sold 15,000 shares at an average price of $44.36, totaling $665,400, under a pre-arranged Rule 10b5-1 trading plan. His remaining stake fell 13.02% to 100,251 shares.
- nLight’s latest quarterly results exceeded expectations, with earnings of $0.15 per share versus the $0.14 consensus and revenue of $82.59 million, up 33.8% year over year.
- LASR shares opened at $40.32, well below their 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an $87.94 target price, while institutional investors own 83.88% of the company.
nLight (NASDAQ:LASR - Get Free Report) Director William Gossman sold 15,000 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $44.36, for a total transaction of $665,400.00. Following the completion of the sale, the director owned 100,251 shares of the company's stock, valued at approximately $4,447,134.36. The trade was a 13.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
nLight Price Performance
Shares of LASR stock opened at $40.32 on Wednesday. The firm has a 50-day moving average of $60.62 and a 200-day moving average of $64.76. The company has a market cap of $2.33 billion, a P/E ratio of -161.28 and a beta of 2.31. nLight has a one year low of $27.22 and a one year high of $86.95.
nLight (NASDAQ:LASR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The company had revenue of $82.59 million for the quarter, compared to analyst estimates of $78.58 million. During the same period last year, the firm earned $0.06 earnings per share. The firm's revenue was up 33.8% on a year-over-year basis. As a group, research analysts expect that nLight will post -0.19 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on LASR. Raymond James Financial restated a "strong-buy" rating and issued a $100.00 target price on shares of nLight in a research note on Friday, May 8th. Stifel Nicolaus increased their price target on nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Wall Street Zen lowered nLight from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Needham & Company LLC boosted their price objective on nLight from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, Zacks Research downgraded nLight from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.94.
Read Our Latest Analysis on nLight
Institutional Trading of nLight
Several hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its stake in nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company's stock valued at $46,000 after acquiring an additional 223 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of nLight by 0.7% during the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company's stock valued at $2,384,000 after acquiring an additional 281 shares during the period. ProShare Advisors LLC increased its stake in shares of nLight by 2.7% during the 4th quarter. ProShare Advisors LLC now owns 13,745 shares of the company's stock worth $516,000 after purchasing an additional 358 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of nLight by 1.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,574 shares of the company's stock worth $997,000 after purchasing an additional 422 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of nLight by 8.0% in the 4th quarter. NewEdge Advisors LLC now owns 6,003 shares of the company's stock worth $225,000 after purchasing an additional 443 shares during the period. Institutional investors 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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