nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 10,062 Shares of Stock

nLight (NASDAQ:LASR - Get Free Report) CFO Joseph John Corso sold 10,062 shares of nLight stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $17.62, for a total value of $177,292.44. Following the transaction, the chief financial officer now owns 166,362 shares of the company's stock, valued at approximately $2,931,298.44. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

nLight Price Performance

Shares of LASR stock traded down $0.97 during trading hours on Friday, hitting $17.40. 1,468,294 shares of the company's stock were exchanged, compared to its average volume of 417,150. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $19.44. The firm has a market cap of $860.26 million, a P/E ratio of -15.40 and a beta of 2.27. The company has a quick ratio of 4.63, a current ratio of 5.81 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $12.65 and a two-hundred day moving average of $10.83.

nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.13. The company had revenue of $51.67 million during the quarter, compared to analysts' expectations of $47.77 million. nLight had a negative net margin of 26.80% and a negative return on equity of 22.23%. The firm's revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. Sell-side analysts forecast that nLight will post -1.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LASR shares. Needham & Company LLC increased their price target on shares of nLight from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Craig Hallum raised shares of nLight from a "hold" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Friday, May 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $15.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp raised its holdings in shares of nLight by 11.1% during the fourth quarter. Stifel Financial Corp now owns 159,648 shares of the company's stock valued at $1,675,000 after acquiring an additional 15,904 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of nLight by 72.0% in the fourth quarter. Bank of America Corp DE now owns 209,644 shares of the company's stock worth $2,199,000 after acquiring an additional 87,788 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of nLight during the fourth quarter worth approximately $1,976,000. Moody National Bank Trust Division raised its stake in nLight by 345.1% in the 1st quarter. Moody National Bank Trust Division now owns 48,757 shares of the company's stock valued at $379,000 after purchasing an additional 37,803 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in nLight by 39.9% in the 4th quarter. Two Sigma Investments LP now owns 123,559 shares of the company's stock valued at $1,296,000 after purchasing an additional 35,260 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

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.