Scott H. Keeney, President and CEO of nLight, Inc. (NASDAQ:LASR), reported selling a total of $299,021 worth of common stock over two days, according to a recent SEC filing. The stock, currently trading at $11.36, has shown significant volatility with analyst targets ranging from $12 to $20 per share. According to InvestingPro, the company maintains a strong balance sheet with more cash than debt. The transactions, executed under a Rule 10b5-1 trading plan, involved selling 15,000 shares at an average price of $11.19 on December 12 and 12,012 shares at an average price of $10.92 on December 13. Following these sales, Keeney holds 1,340,146 shares of nLight's common stock. Additionally, Keeney exercised stock options to acquire 27,012 shares at a price of $0.75 per share during the same period. With eight analysts recently revising earnings estimates downward, investors seeking deeper insights into insider trading patterns and comprehensive analysis can access the full Pro Research Report on InvestingPro.
In other recent news, nLIGHT Inc (NASDAQ:LASR). reported an 11% year-over-year revenue increase in the third quarter of 2024, reaching $56.1 million. This growth was primarily driven by its aerospace and defense segment, which saw a record $30.3 million in revenue. Despite positive developments, nLIGHT is navigating challenges in its commercial business and transitioning its manufacturing operations from Shanghai to Thailand and the U.S.
Recent developments also include the launch of the Corona AFX-2000, a new 2-kilowatt laser for metal additive manufacturing. The company ended the quarter with a strong balance sheet, holding $107 million in cash and no debt. However, the company reported a non-GAAP net loss of $3.7 million, an improvement from the previous year's loss.
Looking ahead, nLIGHT projects fourth-quarter revenue to be between $49 million and $54 million, with anticipated growth in the aerospace and defense products. Adjusted EBITDA for Q4 is expected to be between negative $5 million and negative $2 million. The company also expects the aerospace and defense segment to grow by at least 20% year-over-year in 2025.
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