Joseph John Corso Sells 66,075 Shares of nLight (NASDAQ:LASR) 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 directly owned 196,224 shares in the company, valued at $7,126,855.68. The trade was a 25.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

Shares of LASR opened at $35.95 on Friday. The stock has a market capitalization of $1.83 billion, a PE ratio of -40.85 and a beta of 2.34. The company has a 50 day moving average price of $32.99 and a 200-day moving average price of $26.92. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $38.63.

Hedge Funds Weigh In On nLight

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of nLight by 18.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,864,312 shares of the company’s stock worth $144,130,000 after acquiring an additional 747,958 shares in the last quarter. Harvey Partners LLC raised its position in shares of nLight by 1.7% in the second quarter. Harvey Partners LLC now owns 2,107,348 shares of the company’s stock valued at $41,473,000 after buying an additional 34,348 shares during the last quarter. AWM Investment Company Inc. lifted its stake in nLight by 1.9% in the 2nd quarter. AWM Investment Company Inc. now owns 1,344,917 shares of the company’s stock worth $26,468,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC lifted its position in nLight by 6.0% during the second quarter. Geode Capital Management LLC now owns 1,215,479 shares of the company’s stock worth $23,925,000 after buying an additional 68,436 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of nLight by 377.2% during the 3rd quarter. Invesco Ltd. now owns 1,057,281 shares of the company’s stock worth $31,327,000 after acquiring an additional 835,720 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Needham & Company LLC raised their target price on shares of nLight from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Canaccord Genuity Group upgraded nLight to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald raised their price target on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Roth Capital initiated coverage on shares of nLight in a research report on Wednesday. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.29.

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.