Scott H. Keeney Sells 4,500 Shares of Nlight Inc (LASR) Stock

Nlight Inc (NASDAQ:LASR) insider Scott H. Keeney sold 4,500 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $23.76, for a total transaction of $106,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Nlight stock opened at $24.95 on Friday. Nlight Inc has a 52 week low of $16.25 and a 52 week high of $43.63. The company has a market capitalization of $891.56 million and a P/E ratio of 77.97.

Nlight (NASDAQ:LASR) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $41.86 million for the quarter, compared to the consensus estimate of $42.47 million. Nlight had a net margin of 7.28% and a return on equity of 8.37%. Nlight’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. Analysts forecast that Nlight Inc will post 0.21 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. Northcoast Research restated a “hold” rating on shares of Nlight in a research note on Tuesday, January 29th. Craig Hallum started coverage on shares of Nlight in a research note on Friday, February 8th. They set a “hold” rating and a $20.00 price objective on the stock. Zacks Investment Research upgraded shares of Nlight from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Needham & Company LLC lowered their price objective on shares of Nlight from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.40.

A number of institutional investors and hedge funds have recently made changes to their positions in LASR. Quantamental Technologies LLC bought a new position in Nlight in the 4th quarter worth $34,000. Oppenheimer Asset Management Inc. bought a new position in Nlight in the 4th quarter worth $38,000. Citigroup Inc. raised its holdings in Nlight by 34.0% in the 4th quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock worth $46,000 after acquiring an additional 650 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Nlight by 112.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock worth $51,000 after acquiring an additional 1,214 shares during the period. Finally, Optimum Investment Advisors bought a new position in Nlight in the 1st quarter worth $58,000. Hedge funds and other institutional investors own 75.64% of the company’s stock.

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About Nlight

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.

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