nLight (NASDAQ:LASR) CFO Sells $2,399,844.00 in Stock

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 66,075 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $36.32, for a total value of $2,399,844.00. Following the transaction, the chief financial officer owned 196,224 shares of the company’s stock, valued at $7,126,855.68. This represents a 25.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Joseph John Corso also recently made the following trade(s):

• On Wednesday, December 3rd, Joseph John Corso sold 4,127 shares of nLight stock. The stock was sold at an average price of $33.78, for a total transaction of $139,410.06.

nLight Price Performance

nLight stock traded down $0.77 during trading hours on Wednesday, hitting $34.66. 565,348 shares of the stock were exchanged, compared to its average volume of 621,417. The business’s 50-day moving average is $32.87 and its two-hundred day moving average is $26.86. nLight has a 12 month low of $6.20 and a 12 month high of $38.63. The stock has a market capitalization of $1.76 billion, a P/E ratio of -39.39 and a beta of 2.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63.

Analyst Ratings Changes

A number of research analysts recently issued reports on LASR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a report on Wednesday, October 8th. Zacks Research downgraded shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Roth Capital initiated coverage on shares of nLight in a research report on Wednesday. They set a “buy” rating and a $44.00 target price on the stock. Stifel Nicolaus increased their price target on shares of nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.29.

Hedge Funds Weigh In On nLight

Several large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its position in shares of nLight by 6,151.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 41,819 shares of the company’s stock worth $1,239,000 after purchasing an additional 41,150 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in nLight by 1.0% during the third quarter. Tudor Investment Corp ET AL now owns 298,484 shares of the company’s stock worth $8,844,000 after buying an additional 3,093 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of nLight by 90.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 25,838 shares of the company’s stock worth $766,000 after buying an additional 12,278 shares during the period. Oberweis Asset Management Inc. bought a new stake in shares of nLight in the 3rd quarter valued at about $7,882,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of nLight in the 3rd quarter valued at about $301,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.

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.