Scott H. Keeney Sells 15,000 Shares of nLIGHT, Inc. (NASDAQ:LASR) Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $11.19, for a total transaction of $167,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,146 shares in the company, valued at approximately $14,996,233.74. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

nLIGHT Stock Down 4.2 %

Shares of NASDAQ LASR opened at $10.88 on Wednesday. The firm has a market cap of $526.91 million, a PE ratio of -10.56 and a beta of 2.20. The company’s fifty day simple moving average is $11.34 and its 200 day simple moving average is $11.39. nLIGHT, Inc. has a 12-month low of $9.80 and a 12-month high of $14.75.

Institutional Trading of nLIGHT

Several large investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in nLIGHT by 317.7% in the third quarter. Barclays PLC now owns 70,599 shares of the company’s stock worth $755,000 after acquiring an additional 53,699 shares in the last quarter. Geode Capital Management LLC raised its position in shares of nLIGHT by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,103,920 shares of the company’s stock worth $11,804,000 after purchasing an additional 9,673 shares during the period. Jane Street Group LLC lifted its holdings in shares of nLIGHT by 98.2% in the 3rd quarter. Jane Street Group LLC now owns 138,646 shares of the company’s stock worth $1,482,000 after purchasing an additional 68,682 shares in the last quarter. State Street Corp grew its position in nLIGHT by 1.1% in the 3rd quarter. State Street Corp now owns 1,021,736 shares of the company’s stock valued at $10,922,000 after purchasing an additional 11,132 shares during the period. Finally, Stifel Financial Corp increased its stake in nLIGHT by 4.3% during the 3rd quarter. Stifel Financial Corp now owns 143,744 shares of the company’s stock valued at $1,537,000 after purchasing an additional 5,909 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LASR. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target on the stock. Needham & Company LLC raised their target price on nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

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.