nLIGHT, Inc. (NASDAQ:LASR) CFO Sells $27,300.00 in Stock

nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the sale, the chief financial officer now directly owns 155,129 shares in the company, valued at approximately $1,694,008.68. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

nLIGHT Stock Performance

Shares of LASR opened at $10.66 on Friday. The stock has a market capitalization of $516.26 million, a P/E ratio of -10.35 and a beta of 2.20. The company’s fifty day moving average is $11.29 and its two-hundred day moving average is $11.51. nLIGHT, Inc. has a 1 year low of $9.80 and a 1 year high of $15.00.

Analyst Ratings Changes

LASR has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald began coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the stock.

Hedge Funds Weigh In On nLIGHT

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd grew its holdings in shares of nLIGHT by 1,637.2% during the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after buying an additional 3,913 shares in the last quarter. nVerses Capital LLC grew its position in shares of nLIGHT by 500.0% in the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 3,500 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in nLIGHT in the third quarter valued at $50,000. Quantbot Technologies LP lifted its position in nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after buying an additional 2,052 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock worth $114,000 after buying an additional 9,690 shares during the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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.