Insider Selling: nLIGHT, Inc. (NASDAQ:LASR) CEO Sells 15,000 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.35, for a total transaction of $155,250.00. Following the sale, the chief executive officer now directly owns 1,348,891 shares in the company, valued at $13,961,021.85. The trade was a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

nLIGHT Stock Performance

LASR stock opened at $10.85 on Thursday. The company’s fifty day simple moving average is $11.21 and its 200 day simple moving average is $11.67. nLIGHT, Inc. has a 12-month low of $9.80 and a 12-month high of $15.00.

Analyst Upgrades and Downgrades

LASR has been the topic of several analyst reports. Benchmark reissued a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd. Needham & Company LLC increased their price target on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald assumed coverage on nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective for the company.

Institutional Investors Weigh In On nLIGHT

Several institutional investors and hedge funds have recently made changes to their positions in the business. Harvey Partners LLC boosted its position in shares of nLIGHT by 56.5% during the 3rd quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock worth $18,547,000 after purchasing an additional 626,500 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings 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 acquiring an additional 309,634 shares in the last quarter. Royce & Associates LP increased its stake in nLIGHT by 9.1% during the 3rd 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 increased 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 worth $24,990,000 after acquiring an additional 155,000 shares in the last quarter. Finally, Divisar Capital Management LLC boosted its stake in nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after purchasing an additional 133,023 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

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.