nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 4,127 Shares

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 4,127 shares of nLight stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $33.78, for a total transaction of $139,410.06. Following the sale, the chief financial officer owned 262,299 shares of the company’s stock, valued at approximately $8,860,460.22. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

nLight Price Performance

Shares of LASR traded up $0.10 on Friday, reaching $36.44. The stock had a trading volume of 450,629 shares, compared to its average volume of 866,409. nLight has a twelve month low of $6.20 and a twelve month high of $38.62. The firm has a market capitalization of $1.85 billion, a PE ratio of -41.41 and a beta of 2.34. The firm has a 50-day moving average of $31.85 and a 200 day moving average of $25.55. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

LASR has been the subject of several research reports. Needham & Company LLC lifted their price target on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Cantor Fitzgerald increased their price target on shares of nLight from $33.50 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Raymond James Financial restated a “strong-buy” rating on shares of nLight in a research report on Friday, August 8th. Finally, Stifel Nicolaus upped their target price on nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, nLight presently has an average rating of “Buy” and an average price target of $32.67.

Hedge Funds Weigh In On nLight

Several institutional investors and hedge funds have recently modified their holdings of LASR. GAMMA Investing LLC boosted its position in nLight by 147.6% during the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after acquiring an additional 924 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares during the period. Wexford Capital LP acquired a new stake in shares of nLight during the third quarter worth $41,000. Global Retirement Partners LLC purchased a new stake in shares of nLight in the third quarter valued at $49,000. Finally, Nisa Investment Advisors LLC grew its position in shares of nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

About nLight

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.