Insider Selling: nLIGHT, Inc. (NASDAQ:LASR) CEO Sells 12,013 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) CEO Scott H. Keeney sold 12,013 shares of nLIGHT stock in a transaction that occurred 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

nLIGHT Stock Up 2.4 %

Shares of LASR traded up $0.24 during trading hours on Thursday, reaching $10.26. The stock had a trading volume of 245,614 shares, compared to its average volume of 254,736. The firm has a 50-day moving average of $11.17 and a 200 day moving average of $11.28. The company has a market cap of $496.89 million, a P/E ratio of -9.96 and a beta of 2.20. nLIGHT, Inc. has a 52 week low of $9.64 and a 52 week high of $14.75.

Institutional Investors Weigh In On nLIGHT

A number of hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd increased its holdings in nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company's stock worth $44,000 after purchasing an additional 3,913 shares in the last quarter. nVerses Capital LLC boosted its position 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 buying an additional 3,500 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of nLIGHT during the third quarter worth about $50,000. Quantbot Technologies LP raised its position in nLIGHT by 25.5% in the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company's stock valued at $108,000 after buying an additional 2,052 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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 acquiring an additional 9,690 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LASR shares. Cantor Fitzgerald assumed coverage on nLIGHT in a research note on Thursday, October 3rd. They set an "overweight" rating and a $15.50 price objective for the company. Needham & Company LLC boosted their target price on nLIGHT from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 8th.

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.