Raymond Link Sells 6,644 Shares of nLight (NASDAQ:LASR) Stock

nLight (NASDAQ:LASR) Director Raymond Link sold 6,644 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $63.28, for a total value of $420,432.32. Following the completion of the transaction, the director directly owned 77,172 shares in the company, valued at $4,883,444.16. The trade was a 7.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

nLight Stock Performance

Shares of NASDAQ LASR traded down $0.17 during trading hours on Friday, reaching $62.60. 1,059,219 shares of the stock were exchanged, compared to its average volume of 2,115,248. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -133.19 and a beta of 2.27. The stock’s fifty day simple moving average is $51.32 and its 200 day simple moving average is $39.01. nLight has a 52 week low of $6.20 and a 52 week high of $69.52.

nLight (NASDAQ:LASR) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. nLight had a negative return on equity of 9.28% and a negative net margin of 8.98%.The business had revenue of $81.19 million during the quarter, compared to the consensus estimate of $76.71 million. During the same period in the previous year, the company posted ($0.30) EPS. The firm’s quarterly revenue was up 71.3% on a year-over-year basis. Research analysts predict that nLight will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its position in nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its holdings in nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after buying an additional 647 shares during the period. Financial Consulate Inc. acquired a new position in shares of nLight in the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd raised its position in shares of nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of nLight by 22.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock worth $46,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

Wall Street Analysts Forecast Growth

LASR has been the topic of several research reports. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Cantor Fitzgerald raised their target price on shares of nLight from $40.00 to $62.50 and gave the stock an “overweight” rating in a report on Friday, February 27th. Stifel Nicolaus began coverage on shares of nLight in a research report on Tuesday, January 20th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Roth Mkm boosted their price target on nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, nLight currently has a consensus rating of “Moderate Buy” and an average price target of $58.31.

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.