Key Points
- CFO Joseph John Corso sold 66,075 nLight shares on December 15 at an average of $36.32 for about $2.40 million, reducing his position by 25.19% to 196,224 shares (worth roughly $7.13M).
- Analysts have been upgrading nLight into the high $30s (many targets raised to ~$39–$40) and the consensus rating is "Moderate Buy", while major institutions such as Invesco and Vanguard materially increased holdings, leaving institutional ownership at about 83.9%.
- The stock opened at $34.66, trades in a 12‑month range of $6.20–$38.63, has a market cap of about $1.76 billion, a negative P/E, and a high beta of 2.34, indicating elevated volatility.
nLight (NASDAQ:LASR - Get Free Report) 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 sale, the chief financial officer owned 196,224 shares in the company, valued at $7,126,855.68. The trade was a 25.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $33.78, for a total value of $139,410.06.
nLight Stock Down 2.2%
Shares of NASDAQ LASR opened at $34.66 on Thursday. nLight has a 12-month low of $6.20 and a 12-month high of $38.63. The firm's 50-day simple moving average is $32.87 and its 200 day simple moving average is $26.86. The company has a quick ratio of 4.36, a current ratio of 5.63 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -39.39 and a beta of 2.34.
Hedge Funds Weigh In On nLight
Several institutional investors have recently modified their holdings of the stock. Invenomic Capital Management LP bought a new position in nLight during the 1st quarter worth approximately $6,763,000. Invesco Ltd. increased its stake in nLight by 377.2% in the third quarter. Invesco Ltd. now owns 1,057,281 shares of the company's stock valued at $31,327,000 after purchasing an additional 835,720 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in nLight in the third quarter worth $22,809,000. Vanguard Group Inc. boosted its position in shares of nLight by 18.2% during the third quarter. Vanguard Group Inc. now owns 4,864,312 shares of the company's stock worth $144,130,000 after purchasing an additional 747,958 shares in the last quarter. Finally, AIGH Capital Management LLC acquired a new position in shares of nLight in the 2nd quarter valued at $11,810,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on LASR shares. Stifel Nicolaus raised their price target on shares of nLight from $26.00 to $40.00 and gave the company a "buy" rating in a report on Friday, November 7th. Cantor Fitzgerald raised their price target on nLight from $33.50 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 7th. Canaccord Genuity Group raised nLight to a "buy" rating in a report on Wednesday. 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. Finally, Zacks Research downgraded shares of nLight from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.29.
Check Out Our Latest Stock Analysis on nLight
About nLight
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
