nLight (NASDAQ:LASR) Director Sells $443,744.80 in Stock

nLight (NASDAQ:LASR) Director Raymond Link sold 12,560 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the transaction, the director owned 102,576 shares in the company, valued at approximately $3,624,010.08. This trade represents a 10.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

nLight Stock Up 0.5%

nLight stock opened at $30.50 on Friday. nLight has a one year low of $6.20 and a one year high of $38.62. The stock has a fifty day moving average of $30.92 and a 200 day moving average of $23.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.41 and a current ratio of 5.63. The stock has a market cap of $1.55 billion, a PE ratio of -34.66 and a beta of 2.48.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LASR. Needham & Company LLC raised their price objective on shares of nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Stifel Nicolaus boosted their price objective on shares of nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Benchmark boosted their price target on nLight from $15.00 to $25.00 and gave the company a “speculative buy” rating in a report on Friday, August 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of nLight in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.67.

Hedge Funds Weigh In On nLight

A number of hedge funds have recently made changes to their positions in the business. Invenomic Capital Management LP bought a new stake in nLight during the 1st quarter valued at approximately $6,763,000. Invesco Ltd. lifted its holdings in shares of nLight by 377.2% in the third 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 in the last quarter. Portolan Capital Management LLC bought a new position in shares of nLight during the third quarter worth $22,809,000. Vanguard Group Inc. grew its stake in nLight by 18.2% during the third quarter. Vanguard Group Inc. now owns 4,864,312 shares of the company’s stock valued at $144,130,000 after acquiring an additional 747,958 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in nLight by 140.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company’s stock worth $9,383,000 after purchasing an additional 705,215 shares in the last quarter. Institutional investors own 83.88% of the company’s stock.

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.