nLight (NASDAQ:LASR – Get Free Report) CFO Joseph Corso sold 3,524 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $41.49, for a total transaction of $146,210.76. Following the completion of the sale, the chief financial officer directly owned 162,200 shares of the company’s stock, valued at approximately $6,729,678. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Joseph John Corso also recently made the following trade(s):
- On Thursday, September 3rd, Joseph Corso sold 4,191 shares of nLight stock. The shares were sold at an average price of $40.69, for a total transaction of $170,531.79.
nLight Price Performance
Shares of NASDAQ:LASR opened at $39.29 on Friday. nLight has a 12 month low of $27.22 and a 12 month high of $86.95. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -157.16 and a beta of 2.30. The stock’s 50 day moving average price is $57.22 and its 200 day moving average price is $64.12.
Institutional Investors Weigh In On nLight
Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of nLight during the second quarter valued at $339,687,000. California State Teachers Retirement System increased its stake in nLight by 7,636.1% in the 2nd quarter. California State Teachers Retirement System now owns 4,262,345 shares of the company’s stock worth $296,744,000 after purchasing an additional 4,207,248 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in nLight in the 4th quarter worth about $41,315,000. AWM Investment Company Inc. acquired a new stake in nLight during the 2nd quarter worth about $65,374,000. Finally, Invesco Ltd. raised its holdings in 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 buying an additional 835,720 shares during the period. 83.88% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
LASR has been the subject of several research reports. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. Craig Hallum lifted their price objective on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, UBS Group set a $90.00 price objective on shares of nLight in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, nLight presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.94.
View Our Latest Report on LASR
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. 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.
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