Insider Selling: nLIGHT, Inc. (NASDAQ:LASR) CEO Sells 53,511 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 53,511 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total transaction of $437,184.87. Following the completion of the transaction, the chief executive officer now directly owns 1,267,927 shares of the company’s stock, valued at approximately $10,358,963.59. This trade represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

nLIGHT Trading Up 8.9 %

NASDAQ:LASR opened at $9.06 on Thursday. The firm has a market cap of $438.77 million, a price-to-earnings ratio of -8.80 and a beta of 2.29. nLIGHT, Inc. has a 12-month low of $7.94 and a 12-month high of $14.73. The company’s 50-day moving average is $10.63 and its two-hundred day moving average is $10.96.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LASR. Stifel Nicolaus cut their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Needham & Company LLC dropped their price objective on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st.

Institutional Investors Weigh In On nLIGHT

A number of large investors have recently added to or reduced their stakes in LASR. Picton Mahoney Asset Management boosted its position in nLIGHT by 47.4% in the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock valued at $30,000 after buying an additional 935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of nLIGHT by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,423 shares of the company’s stock worth $277,000 after acquiring an additional 1,140 shares in the last quarter. XTX Topco Ltd boosted its holdings in nLIGHT by 7.2% in the fourth quarter. XTX Topco Ltd now owns 24,522 shares of the company’s stock valued at $257,000 after purchasing an additional 1,641 shares during the last quarter. Swiss National Bank grew its stake in nLIGHT by 1.9% during the 4th quarter. Swiss National Bank now owns 90,000 shares of the company’s stock valued at $944,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in shares of nLIGHT by 17.6% in the 4th quarter. Quantbot Technologies LP now owns 11,864 shares of the company’s stock valued at $124,000 after purchasing an additional 1,772 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

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.