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

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 4,127 shares of the 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 completion of the sale, the chief financial officer directly owned 262,299 shares in the company, valued at approximately $8,860,460.22. This represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

nLight Stock Up 0.3%

Shares of nLight stock traded up $0.10 during trading on Friday, hitting $36.44. 450,629 shares of the stock were exchanged, compared to its average volume of 866,409. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. The firm’s 50-day moving average price is $31.85 and its 200 day moving average price is $25.55. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -41.41 and a beta of 2.34. nLight has a 12-month low of $6.20 and a 12-month high of $38.62.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of nLight in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.67.

Hedge Funds Weigh In On nLight

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in nLight by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company’s stock worth $28,495,000 after purchasing an additional 74,163 shares during the period. King Luther Capital Management Corp acquired a new position in nLight during the first quarter worth $388,000. Keeley Teton Advisors LLC raised its position in nLight by 89.7% in the first quarter. Keeley Teton Advisors LLC now owns 127,356 shares of the company’s stock worth $990,000 after acquiring an additional 60,221 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in nLight in the second quarter valued at $11,810,000. Finally, Russell Investments Group Ltd. lifted its holdings in nLight by 322.3% in the first quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock valued at $121,000 after acquiring an additional 11,884 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLight Company Profile

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.