Insider Selling: nLIGHT, Inc. (NASDAQ:LASR) Director Sells 38,796 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) Director Geoffrey Moore sold 38,796 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $13.14, for a total transaction of $509,779.44. Following the sale, the director now directly owns 71,186 shares of the company’s stock, valued at approximately $935,384.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

nLIGHT Price Performance

Shares of NASDAQ LASR opened at $13.10 on Thursday. The business has a 50-day moving average of $12.29 and a two-hundred day moving average of $12.69. The company has a market capitalization of $623.04 million, a price-to-earnings ratio of -12.84 and a beta of 2.42. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.91.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. nLIGHT had a negative return on equity of 17.86% and a negative net margin of 23.81%. The company had revenue of $51.89 million for the quarter, compared to analyst estimates of $48.08 million. As a group, equities research analysts expect that nLIGHT, Inc. will post -0.89 earnings per share for the current year.

Institutional Investors Weigh In On nLIGHT

A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of nLIGHT by 21.5% during the 3rd quarter. Raymond James & Associates now owns 170,234 shares of the company’s stock worth $1,770,000 after purchasing an additional 30,135 shares during the period. Bank of New York Mellon Corp increased its holdings in nLIGHT by 12.9% in the third quarter. Bank of New York Mellon Corp now owns 2,357,028 shares of the company’s stock valued at $24,513,000 after buying an additional 269,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of nLIGHT by 91.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company’s stock valued at $91,000 after acquiring an additional 4,174 shares during the period. M&T Bank Corp acquired a new stake in shares of nLIGHT during the 3rd quarter valued at approximately $116,000. Finally, Victory Capital Management Inc. grew its holdings in shares of nLIGHT by 5.4% in the 3rd quarter. Victory Capital Management Inc. now owns 56,000 shares of the company’s stock worth $582,000 after acquiring an additional 2,846 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LASR. Benchmark reaffirmed a “speculative buy” rating and set a $17.00 price target on shares of nLIGHT in a research report on Friday, May 3rd. Needham & Company LLC lowered their price target on nLIGHT from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 3rd.

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.