VANCOUVER, WA—nLight, Inc. (NASDAQ:LASR) President and CEO Scott Keeney recently executed a series of transactions involving the company's common stock, according to a recent SEC filing. On November 18 and 19, Keeney sold a total of 30,000 shares, generating proceeds of approximately $314,550. The transactions were completed at prices ranging from $10.35 to $10.62 per share.
These sales were conducted under a pre-established Rule 10b5-1 trading plan, which Keeney adopted on June 12, 2024. Alongside these sales, Keeney also exercised stock options to acquire 30,000 shares at a price of $0.75 per share, representing a total value of $22,500.
Following these transactions, Keeney holds 1,348,891 shares of nLight common stock. This total includes shares acquired through the company's Employee Stock Purchase Plan and unvested restricted stock awards.
In other recent news, nLIGHT (NASDAQ:LASR), Inc. reported an 11% year-over-year revenue increase in Q3 2024, reaching $56.1 million. This growth was largely driven by the aerospace and defense segment, which saw a record $30.3 million in revenue due to strong performance in directed energy product sales and laser sensing programs. 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, alongside these positive developments, nLIGHT is managing a transition of manufacturing operations from Shanghai to Thailand and the U.S. due to challenges in its commercial business. The company's Q4 2024 revenue is projected to be between $49 million and $54 million, with the aerospace and defense products expected to show sequential growth.
Furthermore, nLIGHT is actively focusing on the HELSI 2 program, a $171 million DoD-funded initiative, and expects the aerospace and defense segment to grow by at least 20% year-over-year in 2025. These are among the recent developments that investors should note.
InvestingPro Insights
nLight's recent stock transactions by CEO Scott Keeney occur against a backdrop of challenging financial metrics for the company. According to InvestingPro data, nLight has a market capitalization of $522.55 million, but is currently unprofitable with a negative P/E ratio of -10.39. This aligns with an InvestingPro Tip indicating that the company is not expected to be profitable this year, based on analyst forecasts.
Despite these challenges, nLight maintains a strong liquidity position. An InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, which could provide financial flexibility in navigating current market conditions. This is particularly relevant given the volatile nature of the stock's price movements, another insight provided by InvestingPro.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics beyond those mentioned here. In fact, there are 8 more InvestingPro Tips available for nLight, providing a deeper understanding of the company's financial health and market position.
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