CAMAS, WA—nLight, Inc. (NASDAQ:LASR), a technology company with a market capitalization of $544 million, recently reported stock transactions by its Chief Accounting Officer, Nias James, according to an SEC filing. On December 3, James sold a total of 1,506 shares of nLight's common stock, valued at approximately $16,566, at a price of $11 per share. According to InvestingPro analysis, the stock currently appears overvalued, with analysts setting price targets between $12 and $20.
Additionally, on December 2, 515 shares were withheld to cover tax liabilities related to the vesting of restricted stock units, valued at $5,695. These shares were not sold in the market. Following these transactions, James holds 54,694 shares, which include both common stock and unvested restricted stock units. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 5.83, while its stock has shown significant volatility with a beta of 2.2. For comprehensive insider trading analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro, covering over 1,400 US stocks.
In other recent news, nLIGHT (NASDAQ:LASR), Inc. reported an 11% year-over-year revenue increase to $56.1 million in the third quarter of 2024. This was primarily driven by substantial growth in its aerospace and defense segment, which saw a record revenue of $30.3 million. The company also launched the Corona AFX-2000, a new 2-kilowatt laser for metal additive manufacturing, and ended the quarter with $107 million in cash and no debt.
However, nLIGHT is currently undergoing a manufacturing transition from Shanghai to Thailand and the U.S. due to challenges in its commercial business. In the fourth quarter of 2024, the company anticipates a revenue between $49 million and $54 million, with aerospace and defense products expected to show sequential growth.
While nLIGHT's industrial revenue declined 41% to $11.6 million due to competition and weak demand, its microfabrication revenue grew 40% sequentially to $14 million. These are recent developments in the company's operations, as it navigates a complex market with both challenges and opportunities.
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