nLight (NASDAQ:LASR) CFO Sells $742,193.10 in Stock

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 12,290 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $60.39, for a total value of $742,193.10. Following the transaction, the chief financial officer owned 170,896 shares of the company’s stock, valued at $10,320,409.44. This trade represents a 6.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, March 5th, Joseph John Corso sold 13,038 shares of nLight stock. The stock was sold at an average price of $61.96, for a total value of $807,834.48.
• On Monday, December 15th, Joseph John Corso sold 66,075 shares of nLight stock. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00.

nLight Price Performance

Shares of NASDAQ LASR traded up $2.36 during midday trading on Monday, reaching $61.00. 1,689,616 shares of the company traded hands, compared to its average volume of 1,992,397. nLight has a 52 week low of $6.20 and a 52 week high of $69.52. The stock has a 50-day moving average price of $49.25 and a 200 day moving average price of $38.16. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -129.79 and a beta of 2.27.

nLight (NASDAQ:LASR) last announced its earnings results on Thursday, February 26th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $81.19 million during the quarter, compared to analyst estimates of $76.71 million. nLight had a negative net margin of 8.98% and a negative return on equity of 9.28%. nLight’s revenue was up 71.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) EPS. As a group, analysts expect that nLight will post -1.1 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on LASR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a report on Thursday, January 22nd. Needham & Company LLC boosted their target price on nLight from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Stifel Nicolaus began coverage on nLight in a research report on Tuesday, January 20th. They issued a “buy” rating and a $60.00 target price for the company. Canaccord Genuity Group raised nLight to a “buy” rating in a research note on Wednesday, December 17th. Finally, Cantor Fitzgerald boosted their price objective on nLight from $40.00 to $62.50 and gave the stock an “overweight” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.31.

Hedge Funds Weigh In On nLight

Hedge funds have recently made changes to their positions in the business. Artisan Partners Limited Partnership acquired a new stake in nLight during the fourth quarter valued at approximately $41,315,000. Invesco Ltd. grew its position in 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 during the last quarter. Portolan Capital Management LLC bought a new position in shares of nLight in the third quarter valued at $22,809,000. Vanguard Group Inc. lifted its position in shares of nLight by 18.2% during the 3rd 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 during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of nLight by 537.8% during the 3rd quarter. Marshall Wace LLP now owns 631,486 shares of the company’s stock worth $18,711,000 after acquiring an additional 532,470 shares in the last quarter. Institutional investors and hedge funds 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.