nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 3,817 Shares

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 3,817 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $72.90, for a total transaction of $278,259.30. Following the completion of the transaction, the chief financial officer owned 169,915 shares in the company, valued at $12,386,803.50. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Wednesday, June 3rd, Joseph John Corso sold 3,840 shares of nLight stock. The stock was sold at an average price of $77.99, for a total transaction of $299,481.60.
• On Wednesday, May 20th, Joseph John Corso sold 35,476 shares of nLight stock. The stock was 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 transaction 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 transaction of $1,386,326.20.

nLight Stock Performance

Shares of nLight stock opened at $65.85 on Friday. The firm has a market cap of $3.71 billion, a PE ratio of -219.49 and a beta of 2.31. The firm’s 50-day simple moving average is $70.22 and its 200-day simple moving average is $55.10. nLight has a 1 year low of $16.87 and a 1 year high of $86.95.

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

Institutional Investors Weigh In On nLight

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in nLight by 161,736.7% during the third quarter. Federated Hermes Inc. now owns 79,300 shares of the company’s stock worth $2,350,000 after acquiring an additional 79,251 shares during the period. FNY Investment Advisers LLC raised its stake in nLight by 6,151.0% during the third quarter. FNY Investment Advisers LLC now owns 41,819 shares of the company’s stock worth $1,239,000 after acquiring an additional 41,150 shares during the period. Lisanti Capital Growth LLC raised its stake in nLight by 23.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 103,978 shares of the company’s stock worth $3,900,000 after acquiring an additional 19,435 shares during the period. Vanguard Group Inc. raised its stake in nLight by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock worth $187,166,000 after acquiring an additional 125,446 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in nLight in the 4th quarter worth about $788,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLight News Summary

Here are the key news stories impacting nLight this week:

• Positive Sentiment: Analysts continue to view nLight favorably, with the stock carrying an average rating of “Moderate Buy”, which may help support longer-term confidence in the company. nLight Receives Average Rating of “Moderate Buy” from Analysts
• Neutral Sentiment: CFO Joseph John Corso sold 3,817 shares on June 4 and 3,840 shares on June 3 under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting, which suggests routine selling rather than a change in outlook. SEC filing for CFO Joseph John Corso sale
• Neutral Sentiment: CEO Scott H. Keeney sold 8,901 shares on June 3 and 16,089 shares on June 4, also through a 10b5-1 plan for tax withholding on vested awards; the company says the trades were planned and do not necessarily signal fundamental weakness. SEC filing for CEO Scott H. Keeney sale
• Neutral Sentiment: Chief Accounting Officer James Nias also sold 940 shares on June 3 under the same type of pre-arranged plan, adding to the near-term insider selling activity. SEC filing for CAO James Nias sale

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald upped their target price on shares of nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research note on Tuesday, April 21st. Stifel Nicolaus upped their target price on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Robert W. Baird assumed coverage on shares of nLight in a research note on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, Needham & Company LLC upped their target price on shares of nLight from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

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.