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 dated Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total transaction of $119,649.48. Following the completion of the sale, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at approximately $13,347,854.16. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

nLIGHT Stock Up 1.9 %

LASR stock opened at $10.46 on Friday. nLIGHT, Inc. has a 52 week low of $9.64 and a 52 week high of $14.75. The business has a 50-day simple moving average of $11.16 and a 200 day simple moving average of $11.27. The company has a market cap of $506.57 million, a PE ratio of -10.16 and a beta of 2.20.

Hedge Funds Weigh In On nLIGHT

Several hedge funds have recently bought and sold shares of the company. Harvey Partners LLC lifted its holdings in shares of nLIGHT by 56.5% during the 3rd quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock worth $18,547,000 after acquiring an additional 626,500 shares during the period. Pinnacle Associates Ltd. lifted its stake in nLIGHT by 18.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after purchasing an additional 309,634 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of nLIGHT by 9.1% in 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 in the last quarter. Needham Investment Management LLC increased its stake in shares of nLIGHT by 7.1% in the 3rd quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock valued at $24,990,000 after purchasing an additional 155,000 shares during the last quarter. Finally, Divisar Capital Management LLC raised its holdings 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 worth $16,897,000 after buying an additional 133,023 shares in the last quarter. 83.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC lifted their price objective on shares of 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 shares of nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target for the company.

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.