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

nLIGHT, Inc. (NASDAQ:LASR)’s share price was down 4.6% 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 were traded 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 nLIGHT stock in a transaction 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 transaction, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

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

nLIGHT Stock Performance

The stock’s fifty day moving average price is $11.29 and its two-hundred day moving average price is $11.52.

Institutional Investors Weigh In On nLIGHT

A number of large investors have recently modified their holdings of the stock. Royce & Associates LP increased its holdings in nLIGHT by 9.1% in the 3rd quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after buying an additional 227,580 shares in the last quarter. Needham Investment Management LLC increased its holdings in shares of nLIGHT by 7.1% in the third quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock worth $24,990,000 after purchasing an additional 155,000 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of nLIGHT by 18.1% in the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after purchasing an additional 309,634 shares in the last quarter. Harvey Partners LLC raised its position in shares of nLIGHT by 56.5% during the 3rd 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 in the last quarter. Finally, Divisar Capital Management LLC raised its holdings in nLIGHT by 9.4% during 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 period. Institutional investors own 83.88% of the company’s stock.

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.