Insider Selling: nLight (NASDAQ:LASR) CAO Sells $73,310.60 in Stock

nLight (NASDAQ:LASR) CAO James Nias sold 940 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total value of $73,310.60. Following the completion of the transaction, the chief accounting officer directly owned 97,621 shares of the company’s stock, valued at approximately $7,613,461.79. The trade was a 0.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Nias also recently made the following trade(s):

• On Wednesday, May 20th, James Nias sold 415 shares of nLight stock. The stock was sold at an average price of $71.09, for a total value of $29,502.35.
• On Tuesday, May 19th, James Nias sold 1,618 shares of nLight stock. The stock was sold at an average price of $68.48, for a total value of $110,800.64.
• On Monday, May 18th, James Nias sold 1,565 shares of nLight stock. The stock was sold at an average price of $70.82, for a total value of $110,833.30.
• On Friday, May 15th, James Nias sold 1,487 shares of nLight stock. The stock was sold at an average price of $75.16, for a total value of $111,762.92.
• On Thursday, March 12th, James Nias sold 1,808 shares of nLight stock. The stock was sold at an average price of $64.42, for a total value of $116,471.36.

nLight Stock Performance

NASDAQ:LASR opened at $65.85 on Monday. nLight has a 1 year low of $16.87 and a 1 year high of $86.95. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -219.49 and a beta of 2.31. The business has a fifty day moving average of $70.22 and a 200-day moving average of $55.28.

nLight (NASDAQ:LASR) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.12. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The company had revenue of $80.18 million during the quarter, compared to analysts’ expectations of $72.14 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 55.2% compared to the same quarter last year. On average, equities research analysts predict that nLight will post -0.17 EPS for the current year.

nLight News Summary

Here are the key news stories impacting nLight this week:

• Positive Sentiment: Analysts continue to view nLight favorably, with the stock carrying an average rating of “Moderate Buy”, which may help support longer-term confidence in the company. nLight Receives Average Rating of “Moderate Buy” from Analysts
• Neutral Sentiment: CFO Joseph John Corso sold 3,817 shares on June 4 and 3,840 shares on June 3 under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting, which suggests routine selling rather than a change in outlook. SEC filing for CFO Joseph John Corso sale
• Neutral Sentiment: CEO Scott H. Keeney sold 8,901 shares on June 3 and 16,089 shares on June 4, also through a 10b5-1 plan for tax withholding on vested awards; the company says the trades were planned and do not necessarily signal fundamental weakness. SEC filing for CEO Scott H. Keeney sale
• Neutral Sentiment: Chief Accounting Officer James Nias also sold 940 shares on June 3 under the same type of pre-arranged plan, adding to the near-term insider selling activity. SEC filing for CAO James Nias sale

Analyst Ratings Changes

Several research analysts have recently issued reports on LASR shares. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of nLight in a research report on Friday, May 8th. Cantor Fitzgerald lifted their price target on nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a research report on Friday, February 27th. Robert W. Baird started coverage on nLight in a research report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price target on the stock. Needham & Company LLC lifted their price target on nLight from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Stifel Nicolaus lifted 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. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.06.

Hedge Funds Weigh In On nLight

Hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after purchasing an additional 1,727 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of nLight by 7,142.9% in the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after acquiring an additional 647 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of nLight in the 4th quarter worth $41,000. Finally, Wexford Capital LP acquired a new position in shares of nLight in the 3rd quarter worth $41,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.

About nLight

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.