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

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report)'s share price gapped down prior to trading on Friday following insider selling activity. 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 trading hands.

Specifically, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares in the company, valued at approximately $18,505,033.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of brokerages have issued reports on LASR. Needham & Company LLC lifted their price objective on nLIGHT from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday. Cantor Fitzgerald began coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price target on the stock. Finally, Benchmark reissued a "speculative buy" rating and set a $17.00 price objective on shares of nLIGHT in a research report on Friday, August 2nd.

nLIGHT Trading Down 23.5 %

The firm has a market capitalization of $540.50 million, a PE ratio of -10.58 and a beta of 2.33. The firm has a 50 day simple moving average of $11.26 and a 200 day simple moving average of $11.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its position in nLIGHT by 9.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company's stock worth $181,000 after buying an additional 1,220 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company's stock valued at $150,000 after purchasing an additional 1,503 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in nLIGHT by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company's stock valued at $204,000 after purchasing an additional 1,546 shares during the period. Price T Rowe Associates Inc. MD lifted its position in nLIGHT by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company's stock valued at $172,000 after purchasing an additional 1,886 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in nLIGHT by 6.7% in the second quarter. Squarepoint Ops LLC now owns 52,823 shares of the company's stock worth $577,000 after purchasing an additional 3,332 shares during the last quarter. 83.88% of the stock is owned by institutional investors.

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.