nLight (NASDAQ:LASR) Trading 7.8% Higher – Here’s What Happened

nLight (NASDAQ:LASR)’s share price was up 7.8% during trading on Tuesday . The stock traded as high as $60.23 and last traded at $58.9550. Approximately 493,377 shares changed hands during trading, a decline of 58% from the average daily volume of 1,175,132 shares. The stock had previously closed at $54.70.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Cantor Fitzgerald lifted their price target on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Roth Mkm increased their price objective on shares of nLight from $44.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of nLight from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

nLight Stock Performance

The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.95 billion, a PE ratio of -65.98 and a beta of 2.33. The business’s fifty day moving average is $44.48 and its 200-day moving average is $35.69.

Insider Buying and Selling at nLight

In related news, CEO Scott H. Keeney sold 31,748 shares of nLight stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $37.51, for a total transaction of $1,190,867.48. Following the transaction, the chief executive officer directly owned 2,285,020 shares in the company, valued at approximately $85,711,100.20. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph John Corso sold 66,075 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00. Following the sale, the chief financial officer directly owned 196,224 shares of the company’s stock, valued at $7,126,855.68. This represents a 25.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 127,502 shares of company stock worth $4,622,166 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of nLight by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company’s stock worth $214,000 after buying an additional 1,170 shares in the last quarter. Jane Street Group LLC increased its stake in nLight by 622.7% in the 1st quarter. Jane Street Group LLC now owns 77,201 shares of the company’s stock worth $600,000 after acquiring an additional 66,518 shares during the last quarter. CWM LLC raised its holdings in shares of nLight by 191.6% during the 2nd quarter. CWM LLC now owns 8,475 shares of the company’s stock worth $167,000 after acquiring an additional 5,569 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of nLight by 162.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of nLight during the 2nd quarter valued at approximately $1,773,000. 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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.