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 business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.35, for a total transaction of $155,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,348,891 shares of the company’s stock, valued at $13,961,021.85. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

nLIGHT Stock Performance

Shares of nLIGHT stock traded down $0.02 during trading hours on Wednesday, reaching $10.85. The company’s stock had a trading volume of 218,943 shares, compared to its average volume of 246,258. nLIGHT, Inc. has a one year low of $9.80 and a one year high of $15.00. The company has a market capitalization of $525.47 million, a P/E ratio of -10.53 and a beta of 2.33. The stock’s fifty day simple moving average is $11.21 and its two-hundred day simple moving average is $11.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LASR. Harvey Partners LLC lifted its stake in shares of nLIGHT by 56.5% in the third quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock valued at $18,547,000 after buying an additional 626,500 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of nLIGHT by 18.1% during the second 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 in the last quarter. Royce & Associates LP lifted its position in shares of nLIGHT by 9.1% during the third 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 lifted its position in shares of nLIGHT by 7.1% during the third 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 in the last quarter. Finally, Divisar Capital Management LLC increased its holdings in nLIGHT by 9.4% during the second 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 during the last quarter. 83.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on LASR. 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 objective for the company. Needham & Company LLC increased their price objective on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Benchmark reiterated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research report on Friday, August 2nd.

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.