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 firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,340,146 shares of the company’s stock, valued at approximately $14,996,233.74. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

nLIGHT Trading Up 3.2 %

NASDAQ:LASR traded up $0.35 on Monday, reaching $11.36. 557,137 shares of the stock traded hands, compared to its average volume of 248,753. nLIGHT, Inc. has a 1-year low of $9.80 and a 1-year high of $14.75. The company’s 50 day moving average is $11.34 and its 200-day moving average is $11.39. The firm has a market capitalization of $550.16 million, a price-to-earnings ratio of -11.03 and a beta of 2.20.

Wall Street Analysts Forecast Growth

LASR has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald started coverage on nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price for the company.

Institutional Investors Weigh In On nLIGHT

Institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd lifted its holdings in nLIGHT by 1,637.2% in the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock valued at $44,000 after buying an additional 3,913 shares during the period. nVerses Capital LLC lifted its stake in shares of nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 3,500 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of nLIGHT in the 3rd quarter valued at about $50,000. Quantbot Technologies LP boosted its position in shares of nLIGHT by 25.5% during the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after purchasing an additional 2,052 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in nLIGHT by 969.0% during the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock worth $114,000 after purchasing an additional 9,690 shares during the period. 83.88% of the stock is owned by institutional investors.

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.