Key Points
- nLight Director Geoffrey Moore sold 4,452 shares for $153,905.64 at an average price of $34.57, reducing his holdings by 5.19% to 81,265 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 plan.
- nLight shares opened at $34.79 and have traded between $28.05 and $86.95 over the past year. The company recently exceeded quarterly earnings and revenue expectations, with revenue rising 33.8% year over year, though it continues to report a negative net margin.
- Analysts maintain a Moderate Buy consensus, with an average price target of $86.50, while institutional investors own 83.88% of the company’s stock.
nLight (NASDAQ:LASR - Get Free Report) Director Geoffrey Moore sold 4,452 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $34.57, for a total transaction of $153,905.64. Following the sale, the director owned 81,265 shares in the company, valued at approximately $2,809,331.05. The trade was a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Geoffrey Moore also recently made the following trade(s):
- On Tuesday, September 15th, Geoffrey Moore sold 4,452 shares of nLight stock. The shares were sold at an average price of $38.45, for a total transaction of $171,179.40.
nLight Stock Up 3.3%
Shares of NASDAQ LASR opened at $34.79 on Tuesday. nLight has a twelve month low of $28.05 and a twelve month high of $86.95. The firm has a market cap of $2.01 billion, a P/E ratio of -139.16 and a beta of 2.37. The company has a 50 day moving average of $41.68 and a 200 day moving average of $59.35.
nLight (NASDAQ:LASR - Get Free Report) last released 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. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%. The business had revenue of $82.59 million for the quarter, compared to analysts' expectations of $78.58 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm's quarterly revenue was up 33.8% on a year-over-year basis. As a group, equities analysts expect that nLight will post -0.19 earnings per share for the current fiscal year.
Hedge Funds Weigh In On nLight
Several hedge funds and other institutional investors have recently modified their holdings of LASR. Activest Wealth Management purchased a new position in shares of nLight in the 3rd quarter worth $39,000. Caitong International Asset Management Co. Ltd grew its holdings 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 acquiring an additional 1,102 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in nLight during the first quarter valued at $52,000. Ascentis Independent Advisors purchased a new stake in nLight during the first quarter valued at $70,000. Finally, Allworth Financial LP purchased a new stake in nLight during the second quarter valued at $81,000. 83.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
LASR has been the subject of several recent analyst reports. UBS Group set a $90.00 price target on nLight in a research note on Friday, July 10th. Northcoast Research set a $75.00 price objective on nLight and gave the company a "buy" rating in a research report on Wednesday, October 7th. Wall Street Zen downgraded nLight from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Craig Hallum boosted their target price on nLight from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of nLight in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $86.50.
Check Out Our Latest Research Report on LASR
nLight Company Profile
(
Get Free Report)
nLight, Inc is a photonics company that develops and manufactures semiconductor and fiber lasers, optical amplifiers, and related laser components and systems. Its products are designed for applications requiring high power, precision, reliability, and advanced beam control.
The company serves customers in industrial, microfabrication, aerospace and defense, and other specialized markets. Its technologies are used in areas such as materials processing, manufacturing, directed-energy systems, and other applications that rely on high-performance laser sources.
Founded in 2000 and headquartered in Vancouver, Washington, nLight operates internationally, with research, development, manufacturing, and sales activities serving customers across North America, Europe, and Asia.
Featured Articles
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].
