nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 3,840 Shares

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 3,840 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $77.99, for a total transaction of $299,481.60. Following the completion of the sale, the chief financial officer owned 173,732 shares of the company’s stock, valued at approximately $13,549,358.68. This represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph John Corso also recently made the following trade(s):

• On Thursday, June 4th, Joseph John Corso sold 3,817 shares of nLight stock. The stock was sold at an average price of $72.90, for a total transaction of $278,259.30.
• On Wednesday, May 20th, Joseph John Corso sold 35,476 shares of nLight stock. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40.
• On Tuesday, May 19th, Joseph John Corso sold 20,243 shares of nLight stock. The stock was sold at an average price of $68.48, for a total transaction of $1,386,240.64.
• On Monday, May 18th, Joseph John Corso sold 19,575 shares of nLight stock. The stock was sold at an average price of $70.82, for a total value of $1,386,301.50.
• On Friday, May 15th, Joseph John Corso sold 18,445 shares of nLight stock. The shares were sold at an average price of $75.16, for a total value of $1,386,326.20.

nLight Stock Down 12.1%

LASR stock traded down $9.04 during midday trading on Friday, hitting $65.85. The company’s stock had a trading volume of 1,160,903 shares, compared to its average volume of 1,511,003. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -219.49 and a beta of 2.31. The stock’s 50-day moving average price is $70.34 and its 200 day moving average price is $55.03. nLight has a 1 year low of $16.87 and a 1 year high of $86.95.

nLight (NASDAQ:LASR) last announced its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.12. The firm had revenue of $80.18 million during the quarter, compared to analyst estimates of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The business’s revenue was up 55.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) EPS. As a group, equities analysts forecast that nLight will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LASR has been the subject of several research analyst reports. William Blair began coverage on shares of nLight in a research note on Friday, March 27th. They set an “outperform” rating for the company. Stifel Nicolaus increased their price objective on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Tuesday, April 21st. Cantor Fitzgerald boosted their target price on nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Roth Mkm reiterated a “buy” rating and set a $81.00 price target on shares of nLight in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, nLight has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Hedge Funds Weigh In On nLight

Several hedge funds have recently bought and sold shares of LASR. Osaic Holdings Inc. lifted its stake in nLight by 1,599.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of nLight by 7,142.9% in the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after buying an additional 647 shares during the period. Financial Consulate Inc. bought a new stake in nLight during the fourth quarter valued at $41,000. Finally, Wexford Capital LP purchased a new position in nLight during the third quarter worth about $41,000. Hedge funds and other 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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.