Scott Keeney Sells 31,748 Shares of nLight (NASDAQ:LASR) Stock

nLight (NASDAQ:LASR) CEO Scott Keeney sold 31,748 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the completion of the transaction, the chief executive officer owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

nLight Stock Performance

Shares of NASDAQ:LASR opened at $40.02 on Friday. nLight has a one year low of $6.20 and a one year high of $41.52. The firm has a market cap of $2.03 billion, a PE ratio of -45.48 and a beta of 2.33. The firm’s 50 day simple moving average is $35.24 and its 200-day simple moving average is $29.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of nLight from $32.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 7th. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research report on Wednesday, October 8th. Roth Capital initiated coverage on shares of nLight in a report on Wednesday, December 17th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on nLight from $26.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.29.

Institutional Investors Weigh In On nLight

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in nLight by 1.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 22,301 shares of the company’s stock valued at $661,000 after acquiring an additional 357 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of nLight by 12.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock valued at $97,000 after purchasing an additional 561 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of nLight by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,988 shares of the company’s stock valued at $354,000 after acquiring an additional 723 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of nLight by 147.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 924 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of nLight by 45.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,488 shares of the company’s stock valued at $103,000 after purchasing an additional 1,091 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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.