Key Points
- nLight CEO Scott Keeney sold 100,000 shares at an average price of $41.01, generating $4.1 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 4.85%.
- nLight recently exceeded quarterly expectations, reporting adjusted EPS of $0.15 versus a $0.14 consensus estimate and revenue of $82.59 million, up 33.8% year over year.
- Despite the stock trading well below its 52-week high, analysts maintain a “Moderate Buy” consensus with an average price target of $87.94; institutional investors own 83.88% of the shares.
nLight (NASDAQ:LASR - Get Free Report) CEO Scott Keeney sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $41.01, for a total transaction of $4,101,000.00. Following the completion of the sale, the chief executive officer directly owned 1,960,034 shares of the company's stock, valued at $80,380,994.34. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
nLight Stock Performance
NASDAQ LASR opened at $39.29 on Friday. The firm's 50 day moving average price is $57.22 and its 200-day moving average price is $64.12. nLight has a 52-week low of $27.22 and a 52-week high of $86.95. The company has a market cap of $2.27 billion, a PE ratio of -157.16 and a beta of 2.30.
nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $82.59 million for the quarter, compared to analyst estimates of $78.58 million. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. nLight's revenue was up 33.8% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. On average, analysts forecast that nLight will post -0.19 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Craig Hallum boosted their price target on nLight from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Stifel Nicolaus raised their price objective on nLight from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. UBS Group set a $90.00 target price on shares of nLight in a report on Friday, July 10th. Needham & Company LLC increased their price target on shares of nLight from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, Zacks Research cut shares of nLight from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.94.
Get Our Latest Stock Analysis on nLight
Institutional Investors Weigh In On nLight
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASR. SBI Securities Co. Ltd. grew its stake in shares of nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company's stock worth $46,000 after acquiring an additional 223 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of nLight by 0.7% in the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company's stock valued at $2,384,000 after purchasing an additional 281 shares during the last quarter. ProShare Advisors LLC raised its position in shares of nLight by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 13,745 shares of the company's stock valued at $516,000 after purchasing an additional 358 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in nLight by 1.6% in 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 in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in 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 in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.
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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