nLIGHT (NASDAQ:LASR) Shares Gap Down on Insider Selling

nLIGHT, Inc. (NASDAQ:LASR)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $14.68, but opened at $11.00. nLIGHT shares last traded at $12.06, with a volume of 216,006 shares.

Specifically, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at $18,505,033.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

LASR has been the topic of a number of research analyst reports. Cantor Fitzgerald started coverage on nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price on the stock. Benchmark restated a “speculative buy” rating and set a $17.00 target price on shares of nLIGHT in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th.

nLIGHT Stock Performance

The company has a 50-day moving average of $11.26 and a 200-day moving average of $11.70. The stock has a market cap of $594.41 million, a price-to-earnings ratio of -10.38 and a beta of 2.33.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LASR. nVerses Capital LLC increased its stake in shares of nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after acquiring an additional 3,500 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after buying an additional 9,690 shares during the period. ProShare Advisors LLC boosted its stake in shares of nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after buying an additional 1,503 shares in the last quarter. Creative Planning acquired a new position in nLIGHT during the third quarter worth $136,000. Finally, Price T Rowe Associates Inc. MD raised its position in nLIGHT by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after acquiring an additional 1,886 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

About nLIGHT

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.