nLIGHT, Inc. (NASDAQ:LASR) CEO Sells $119,649.48 in Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 12,013 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $9.96, for a total transaction of $119,649.48. Following the transaction, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at approximately $13,347,854.16. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

nLIGHT Price Performance

NASDAQ LASR opened at $10.46 on Friday. The company’s fifty day moving average is $11.17 and its two-hundred day moving average is $11.28. nLIGHT, Inc. has a 52-week low of $9.64 and a 52-week high of $14.75. The firm has a market capitalization of $506.57 million, a price-to-earnings ratio of -10.16 and a beta of 2.20.

Institutional Investors Weigh In On nLIGHT

Several hedge funds have recently made changes to their positions in the stock. Divisar Capital Management LLC raised its holdings in nLIGHT by 9.4% in the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after acquiring an additional 133,023 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of nLIGHT by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,784 shares of the company’s stock valued at $4,124,000 after purchasing an additional 8,139 shares during the period. Victory Capital Management Inc. raised its stake in shares of nLIGHT by 6.6% in the third quarter. Victory Capital Management Inc. now owns 97,500 shares of the company’s stock valued at $1,042,000 after purchasing an additional 6,000 shares in the last quarter. Creative Planning bought a new position in nLIGHT in the third quarter worth $136,000. Finally, Natixis Advisors LLC increased its holdings in nLIGHT by 19.2% in the 2nd quarter. Natixis Advisors LLC now owns 93,043 shares of the company’s stock valued at $1,017,000 after buying an additional 14,983 shares during the period. Institutional investors own 83.88% of the company’s stock.

Analysts Set New Price Targets

LASR has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald initiated coverage on nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target on the stock.

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.