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

Key Points

• nLight CFO Joseph Corso sold 4,191 shares at an average price of $40.69, totaling $170,531.79. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, reducing his position by 2.47%.
• nLight recently reported quarterly EPS of $0.15, exceeding estimates by $0.01, while revenue rose 33.8% year over year to $82.59 million. The company nevertheless posted a negative net margin of 4.02%.
• Shares traded at $41.53, well below their 52-week high of $86.95. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $87.94, though some firms have downgraded the stock to “Hold.”

nLight (NASDAQ:LASR - Get Free Report) CFO Joseph Corso sold 4,191 shares of nLight 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 sale, the chief financial officer owned 165,724 shares in the company, valued at $6,743,309.56. This represents a 2.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $41.49, for a total transaction of $146,210.76.

nLight Price Performance

LASR traded up $1.47 during trading hours on Tuesday, reaching $41.53. 1,549,626 shares of the stock traded hands, compared to its average volume of 1,449,755. The firm's fifty day simple moving average is $58.78 and its two-hundred day simple moving average is $64.43. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -166.12 and a beta of 2.30. nLight has a fifty-two week low of $27.22 and a fifty-two week high of $86.95.

nLight (NASDAQ:LASR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. nLight had a negative net margin of 4.02% and a negative return on equity of 2.83%. The firm had revenue of $82.59 million for the quarter, compared to the consensus estimate of $78.58 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm's quarterly revenue was up 33.8% on a year-over-year basis. On average, research analysts predict that nLight will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LASR. Needham & Company LLC raised their price target on shares of nLight from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Zacks Research cut shares of nLight from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. UBS Group set a $90.00 price objective on shares of nLight in a report on Friday, July 10th. Craig Hallum lifted their target price on nLight from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of nLight from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, nLight presently has an average rating of "Moderate Buy" and an average price target of $87.94.

Institutional Trading of nLight

Several hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in shares of nLight by 1,599.1% in the second 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 stake 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 purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after purchasing an additional 647 shares during the period. Wexford Capital LP acquired a new stake in nLight in the third quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in nLight by 7,871.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company's stock worth $42,000 after purchasing an additional 1,102 shares during the period. 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.

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