Insider Selling: nLIGHT, Inc. (NASDAQ:LASR) CEO Sells 15,000 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) 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 approximately $18,505,033.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

nLIGHT Price Performance

NASDAQ LASR opened at $11.23 on Friday. The business’s 50-day moving average is $11.25 and its 200 day moving average is $11.71. nLIGHT, Inc. has a 1 year low of $9.52 and a 1 year high of $15.00. The stock has a market capitalization of $540.45 million, a PE ratio of -10.90 and a beta of 2.33.

Institutional Investors Weigh In On nLIGHT

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of nLIGHT by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company’s stock worth $65,855,000 after purchasing an additional 23,697 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of nLIGHT by 9.1% during the 3rd quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock valued at $29,221,000 after purchasing an additional 227,580 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of nLIGHT by 18.1% during the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after purchasing an additional 309,634 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of nLIGHT by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,656,803 shares of the company’s stock valued at $21,538,000 after buying an additional 12,014 shares in the last quarter. Finally, Divisar Capital Management LLC raised its position in shares of nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after buying an additional 133,023 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LASR has been the subject of several research analyst reports. Benchmark reissued a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd. Needham & Company LLC raised their price target on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald started coverage on nLIGHT in a report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the 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.