nLight (NASDAQ:LASR) CEO Scott Keeney Sells 9,625 Shares of Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 9,625 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $33.78, for a total transaction of $325,132.50. Following the completion of the sale, the chief executive officer owned 2,300,391 shares in the company, valued at approximately $77,707,207.98. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

nLight Stock Up 0.3%

Shares of NASDAQ LASR opened at $36.44 on Friday. The company has a current ratio of 5.63, a quick ratio of 4.36 and a debt-to-equity ratio of 0.09. nLight has a 12-month low of $6.20 and a 12-month high of $38.62. The firm’s 50-day moving average price is $31.85 and its 200-day moving average price is $25.55. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -41.41 and a beta of 2.34.

Analysts Set New Price Targets

Several research firms have recently issued reports on LASR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Needham & Company LLC increased their price target on nLight from $32.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 7th. Benchmark raised their price target on nLight from $15.00 to $25.00 and gave the stock a “speculative buy” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus increased their target price on shares of nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.67.

Hedge Funds Weigh In On nLight

Several hedge funds have recently bought and sold shares of LASR. Vanguard Group Inc. lifted its holdings in shares of nLight by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company’s stock valued at $28,495,000 after purchasing an additional 74,163 shares during the last quarter. King Luther Capital Management Corp acquired a new position in nLight during the 1st quarter valued at about $388,000. Keeley Teton Advisors LLC increased its position in nLight by 89.7% during the 1st quarter. Keeley Teton Advisors LLC now owns 127,356 shares of the company’s stock valued at $990,000 after buying an additional 60,221 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in nLight in the second quarter valued at about $11,810,000. Finally, Russell Investments Group Ltd. boosted its holdings in nLight by 322.3% in the first quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock worth $121,000 after acquiring an additional 11,884 shares in the last quarter. Institutional investors own 83.88% of the company’s stock.

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.