nLIGHT (NASDAQ:LASR) Shares Down 4.6% Following Insider Selling

nLIGHT, Inc. (NASDAQ:LASR)’s share price was down 4.6% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $10.69 and last traded at $10.71. Approximately 133,417 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 246,787 shares. The stock had previously closed at $11.23.

Specifically, CFO Joseph John Corso sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the transaction, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. This represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LASR shares. Cantor Fitzgerald started coverage on nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective on the stock. Needham & Company LLC upped their price objective on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

nLIGHT Trading Up 3.3 %

The company has a 50 day moving average price of $11.29 and a 200-day moving average price of $11.50. The company has a market cap of $533.21 million, a P/E ratio of -10.69 and a beta of 2.20.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LASR. Harvey Partners LLC increased its stake in shares of nLIGHT by 56.5% in the third quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock valued at $18,547,000 after buying an additional 626,500 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of nLIGHT by 18.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after purchasing an additional 309,634 shares during the period. Royce & Associates LP grew its stake in shares of nLIGHT by 9.1% in the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after purchasing an additional 227,580 shares during the last quarter. Needham Investment Management LLC lifted its holdings in nLIGHT by 7.1% during the 3rd quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock worth $24,990,000 after buying an additional 155,000 shares during the period. Finally, Divisar Capital Management LLC grew its position in shares of nLIGHT by 9.4% in the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after buying an additional 133,023 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

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.