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

nLight (NASDAQ:LASR - Get Free Report) CFO Joseph John Corso sold 10,062 shares of the company's 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 sale, the chief financial officer now owns 166,362 shares in the company, valued at approximately $2,931,298.44. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

nLight Trading Up 0.1%

Shares of NASDAQ LASR traded up $0.01 during midday trading on Tuesday, hitting $18.94. The company's stock had a trading volume of 785,426 shares, compared to its average volume of 409,121. nLight has a 12-month low of $6.20 and a 12-month high of $19.43. The company has a current ratio of 5.81, a quick ratio of 4.63 and a debt-to-equity ratio of 0.09. The firm has a market cap of $936.39 million, a P/E ratio of -16.76 and a beta of 2.27. The business's 50 day moving average is $12.01 and its two-hundred day moving average is $10.68.

nLight (NASDAQ:LASR - Get Free Report) last released its earnings results 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 business had revenue of $51.67 million for the quarter, compared to analyst estimates of $47.77 million. nLight had a negative return on equity of 22.23% and a negative net margin of 26.80%. The business's revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities research analysts expect that nLight will post -1.1 EPS for the current year.

Institutional Investors Weigh In On nLight

Several large investors have recently added to or reduced their stakes in LASR. Senvest Management LLC boosted its holdings in shares of nLight by 114.1% in the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company's stock valued at $26,033,000 after purchasing an additional 1,322,637 shares during the period. Invenomic Capital Management LP bought a new position in shares of nLight during the 1st quarter worth $6,763,000. Segall Bryant & Hamill LLC raised its holdings in shares of nLight by 140.4% in the first quarter. Segall Bryant & Hamill LLC now owns 1,207,580 shares of the company's stock valued at $9,383,000 after acquiring an additional 705,215 shares in the last quarter. Needham Investment Management LLC raised its holdings in shares of nLight by 13.4% in the fourth quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company's stock valued at $27,821,000 after acquiring an additional 314,375 shares in the last quarter. Finally, AWM Investment Company Inc. lifted its stake in nLight by 29.5% in the first quarter. AWM Investment Company Inc. now owns 1,319,917 shares of the company's stock worth $10,256,000 after acquiring an additional 300,924 shares during the period. 83.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on LASR. Needham & Company LLC increased their price target on nLight from $14.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Craig Hallum upgraded shares of nLight from a "hold" rating to a "buy" rating and set a $14.00 price objective on the stock in a research report on Friday, May 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $15.70.

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.

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