Vancouver, WA – Scott Keeney, President and CEO of nLight, Inc. (NASDAQ:LASR), recently sold shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, executed under a prearranged Rule 10b5-1 trading plan, involved the sale of 30,000 shares of common stock over two days, resulting in a total value of approximately $393,900.
On November 5, Keeney sold 15,000 shares at an average price of $12.53 per share, with individual sale prices ranging from $12.39 to $12.75. The following day, November 6, another 15,000 shares were sold at an average price of $13.73, with prices ranging between $13.47 and $14.14.
In addition to these sales, Keeney exercised stock options to acquire 30,000 shares at a price of $0.75 each on the same dates, resulting in a total acquisition cost of $22,500.
Following these transactions, Keeney holds approximately 1,347,781 shares of nLight, which includes both common stock and unvested restricted stock awards and units.
In other recent news, Nlight displayed a strong financial performance in the second quarter, with a 13% increase in revenue, totaling $50.5 million. This growth was primarily driven by a 26% increase in the aerospace and defense sectors, while the commercial business also showed a modest growth of 1%. The company's product gross margin reached 30%, and it ended the quarter with $115 million in cash and no debt. In addition, Nlight is developing a 1-megawatt laser and a 50-kilowatt high-energy laser, and has launched new products in welding and additive manufacturing. Furthermore, Nlight has secured an amended credit agreement with Banc of California (NYSE:BANC), extending the loan's maturity to September 24, 2027, to enhance its financial flexibility. Cantor Fitzgerald initiated coverage on Nlight with an Overweight rating, setting a 12-month price target for the stock at $15.50, indicating confidence in the company's prospects. The firm expects Nlight to return to revenue growth in 2025, driven by a significant backlog, strong performance in the aerospace and defense sectors, and a rebound in demand within its commercial markets.
InvestingPro Insights
Recent market data from InvestingPro provides additional context to Scott Keeney's stock transactions. nLight, Inc. (NASDAQ:LASR) currently has a market capitalization of $706.48 million, reflecting its position in the laser technology sector. The company's stock has shown significant momentum, with a 31.78% price return over the past month and a robust 54.85% return over the last year.
Despite these positive price movements, InvestingPro Tips highlight some financial challenges. The company is not profitable over the last twelve months, with a negative P/E ratio of -13.58. This aligns with the InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year. However, it's worth noting that nLight holds more cash than debt on its balance sheet, which could provide financial flexibility as the company navigates towards profitability.
The stock's recent performance has been particularly strong, with InvestingPro data showing a 19.74% price return in just the last week. This surge has brought nLight's stock price to 97.87% of its 52-week high, corroborating the InvestingPro Tip that the stock is trading near its 52-week high.
Investors considering nLight should be aware that the company does not pay a dividend, focusing instead on growth and reinvestment. Additionally, the stock's price movements are described as quite volatile, which may explain the recent significant returns but also suggests potential risks.
For a more comprehensive analysis, InvestingPro offers 13 additional tips on nLight, providing investors with a deeper understanding of the company's financial health and market position.
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