Scott H. Keeney Sells 53,511 Shares of nLIGHT, Inc. (NASDAQ:LASR) Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 53,511 shares of nLIGHT stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $8.17, for a total transaction of $437,184.87. Following the transaction, the chief executive officer now owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. This trade represents a 4.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

nLIGHT Stock Performance

Shares of NASDAQ:LASR opened at $9.27 on Friday. The firm has a market cap of $448.94 million, a PE ratio of -9.00 and a beta of 2.29. nLIGHT, Inc. has a 52 week low of $7.94 and a 52 week high of $14.73. The firm’s fifty day moving average is $10.58 and its 200-day moving average is $10.93.

nLIGHT (NASDAQ:LASR) last released its earnings results on Thursday, February 27th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The firm had revenue of $47.38 million during the quarter, compared to analyst estimates of $46.62 million. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. Sell-side analysts forecast that nLIGHT, Inc. will post -1.1 EPS for the current year.

Hedge Funds Weigh In On nLIGHT

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. lifted its holdings in nLIGHT by 9.7% in the fourth quarter. AWM Investment Company Inc. now owns 1,018,993 shares of the company’s stock valued at $10,689,000 after buying an additional 90,040 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in nLIGHT by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,990 shares of the company’s stock valued at $871,000 after buying an additional 5,958 shares during the period. Two Sigma Investments LP lifted its holdings in nLIGHT by 39.9% in the fourth quarter. Two Sigma Investments LP now owns 123,559 shares of the company’s stock valued at $1,296,000 after buying an additional 35,260 shares during the period. Polar Capital Holdings Plc bought a new stake in nLIGHT in the fourth quarter valued at $2,259,000. Finally, ProShare Advisors LLC increased its stake in nLIGHT by 46.9% in the fourth quarter. ProShare Advisors LLC now owns 19,112 shares of the company’s stock valued at $200,000 after purchasing an additional 6,098 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analysts Set New Price Targets

LASR has been the topic of a number of recent research reports. Stifel Nicolaus cut their price target on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC cut their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st.

nLIGHT Company Profile

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.