nLIGHT (NASDAQ:LASR) Sees Unusually-High Trading Volume – Time to Buy?

Shares of nLIGHT, Inc. (NASDAQ:LASR) saw strong trading volume on Tuesday . 470,930 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 238,573 shares.The stock last traded at $10.84 and had previously closed at $10.90.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Benchmark reissued a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd. Needham & Company LLC boosted their price objective on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Finally, Cantor Fitzgerald assumed coverage on nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the stock.

nLIGHT Price Performance

The stock has a 50 day moving average price of $11.23 and a 200-day moving average price of $11.71. The stock has a market capitalization of $535.21 million, a P/E ratio of -10.80 and a beta of 2.33.

Insiders Place Their Bets

In other nLIGHT news, CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at $18,505,033.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the transaction, the chief financial officer now owns 171,434 shares of the company’s stock, valued at $1,961,204.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott H. Keeney sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $18,505,033.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,461 shares of company stock valued at $591,634. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

A number of institutional investors and hedge funds have recently bought and sold shares of LASR. Algert Global LLC purchased a new position in nLIGHT during the third quarter worth about $622,000. Charles Schwab Investment Management Inc. raised its stake in nLIGHT by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,784 shares of the company’s stock worth $4,124,000 after purchasing an additional 8,139 shares during the period. Intech Investment Management LLC purchased a new position in nLIGHT during the third quarter worth about $123,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in nLIGHT by 63.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,661 shares of the company’s stock worth $1,119,000 after purchasing an additional 40,564 shares during the period. Finally, Quest Partners LLC raised its stake in nLIGHT by 227.4% during the third quarter. Quest Partners LLC now owns 71,979 shares of the company’s stock worth $769,000 after purchasing an additional 49,995 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

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.