FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
Scott Keeney, the President and CEO of nLIGHT, Inc. (NASDAQ:LASR), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Keeney sold 53,511 shares of nLIGHT common stock on March 4, 2025. The shares were sold at a weighted average price of $8.17, resulting in a total transaction value of $437,184 - notably below the current market price of $9.06. This sale was conducted as part of a pre-arranged trading plan under Rule 10b5-1, which Keeney adopted on June 12, 2024. The transaction comes as InvestingPro data shows the stock has experienced significant volatility, with a beta of 2.29 and a 29.5% decline over the past year.
In a separate transaction on March 3, 2025, Keeney had 18,708 shares withheld to cover tax liabilities related to the vesting of restricted stock units. These shares, valued at $8.30 each, were not sold on the open market.
Following these transactions, Keeney holds 1,267,927 shares of nLIGHT, which include common stock and unvested restricted stock awards and units.
In other recent news, Nlight reported disappointing Q4 2024 earnings, with both earnings per share and revenue missing analyst expectations. The company’s EPS was -$0.30, significantly below the forecasted -$0.06, and revenue reached only $47.38 million compared to the projected $59.97 million. Following this, various analyst firms adjusted their outlook on Nlight. Benchmark revised its price target from $17.00 to $15.00, maintaining a Speculative Buy rating, while Craig-Hallum reduced its target to $11.00 and kept a Hold rating. Cantor Fitzgerald also lowered its price target to $14.00, retaining an Overweight rating on Nlight’s shares.
The company’s Q4 2024 revenue decreased by 9% year-over-year, with a notable drop in gross margin from 19% to 2%. Despite these challenges, Nlight’s Aerospace and Defense segment showed resilience, growing by 20% and contributing significantly to total sales. Analysts from Benchmark and Craig-Hallum highlighted the strong performance and potential growth of this segment, with expectations of a 25% increase in 2025. Nlight’s management remains optimistic about the Aerospace and Defense sector as a primary growth driver, despite ongoing difficulties in the commercial markets.
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