William Gossman Sells 15,000 Shares of nLight (NASDAQ:LASR) Stock

nLight (NASDAQ:LASR) Director William Gossman sold 15,000 shares of nLight stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $44.36, for a total transaction of $665,400.00. Following the transaction, the director directly owned 100,251 shares in the company, valued at approximately $4,447,134.36. This trade represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

nLight Stock Down 2.3%

LASR opened at $39.39 on Thursday. nLight has a 52-week low of $27.22 and a 52-week high of $86.95. The company has a 50 day moving average of $60.13 and a two-hundred day moving average of $64.67. The company has a market cap of $2.27 billion, a P/E ratio of -157.56 and a beta of 2.30.

nLight (NASDAQ:LASR) last posted its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The business had revenue of $82.59 million for the quarter, compared to analyst estimates of $78.58 million. During the same quarter in the previous year, the business posted $0.06 EPS. The business’s quarterly revenue was up 33.8% on a year-over-year basis. Research analysts anticipate that nLight will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On nLight

Hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its position in nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after acquiring an additional 1,727 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares during the period. Wexford Capital LP bought a new stake in shares of nLight during the third quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after purchasing an additional 1,102 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LASR has been the topic of several recent research reports. UBS Group set a $90.00 price target on nLight in a research report on Friday, July 10th. Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Stifel Nicolaus boosted their target price on shares of nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of nLight in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.94.

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. 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.