nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 4,191 Shares

nLight (NASDAQ:LASR) CFO Joseph Corso sold 4,191 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.69, for a total transaction of $170,531.79. Following the completion of the transaction, the chief financial officer owned 165,724 shares of the company’s stock, valued at $6,743,309.56. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Friday, September 4th, Joseph Corso sold 3,524 shares of nLight stock. The stock was sold at an average price of $41.49, for a total transaction of $146,210.76.

nLight Trading Up 3.7%

LASR stock traded up $1.47 on Tuesday, hitting $41.53. 1,549,626 shares of the company’s stock traded hands, compared to its average volume of 1,449,755. nLight has a 1-year low of $27.22 and a 1-year high of $86.95. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -166.12 and a beta of 2.30. The stock has a fifty day moving average of $58.78 and a 200-day moving average of $64.43.

nLight (NASDAQ:LASR) last issued its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $82.59 million during the quarter, compared to analysts’ expectations of $78.58 million. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, equities research analysts anticipate that nLight will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LASR shares. UBS Group set a $90.00 target price on nLight in a report on Friday, July 10th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Stifel Nicolaus lifted their price target on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Needham & Company LLC boosted their price objective on nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, nLight has an average rating of “Moderate Buy” and an average price target of $87.94.

Institutional Trading of nLight

Several large investors have recently added to or reduced their stakes in LASR. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of nLight in the first quarter valued at $52,000. Sunbelt Securities Inc. grew its holdings in shares of nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC raised its position 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. Caitong International Asset Management Co. Ltd raised its position in nLight by 7,871.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares during the period. Finally, Allworth Financial LP purchased a new stake in nLight in the 2nd quarter worth about $81,000. 83.88% of the stock is 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. 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.