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

Key Points

• nLight CFO Joseph John Corso sold 3,817 shares on June 4 at an average price of $72.90, a transaction worth about $278,259. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
• Corso has also made several other recent sales, including a large batch of shares earlier in May and another sale on June 3. After the latest transaction, he still directly owned 169,915 shares valued at about $12.39 million.
• nLight shares fell sharply to $65.85 on Friday after the report. The company recently beat earnings and revenue estimates, and Wall Street’s overall view remains Moderate Buy with a consensus price target of $69.06.

nLight (NASDAQ:LASR - Get Free Report) CFO Joseph John Corso sold 3,817 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $72.90, for a total transaction of $278,259.30. Following the sale, the chief financial officer directly owned 169,915 shares in the company, valued at $12,386,803.50. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Wednesday, June 3rd, Joseph John Corso sold 3,840 shares of nLight stock. The shares were sold at an average price of $77.99, for a total value of $299,481.60.
• On Wednesday, May 20th, Joseph John Corso sold 35,476 shares of nLight stock. The shares were sold at an average price of $70.40, for a total value 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 value 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 value 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 value of $1,386,326.20.

nLight Stock Performance

Shares of nLight stock traded down $9.04 on Friday, reaching $65.85. 1,160,903 shares of the company's stock were exchanged, compared to its average volume of 1,511,003. The company has a market capitalization of $3.71 billion, a P/E ratio of -219.49 and a beta of 2.31. nLight has a 52 week low of $16.87 and a 52 week high of $86.95. The firm's 50-day moving average is $70.34 and its two-hundred day moving average is $55.03.

nLight (NASDAQ:LASR - Get Free Report) last released 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 company had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. nLight's quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.04) EPS. On average, analysts expect that nLight will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Cantor Fitzgerald raised their target price on nLight from $40.00 to $62.50 and gave the company an "overweight" rating in a research note on Friday, February 27th. Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 price target on shares of nLight in a report on Friday, May 8th. Stifel Nicolaus raised their price objective on 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 initiated coverage on nLight in a research report on Wednesday, March 4th. They set an "outperform" rating and a $95.00 target price on the stock. Finally, Roth Mkm reiterated a "buy" rating and issued a $81.00 target price on shares of nLight in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.06.

Institutional Investors Weigh In On nLight

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in nLight by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company's stock valued at $214,000 after acquiring an additional 1,170 shares in the last quarter. Jane Street Group LLC lifted its position in shares of nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company's stock valued at $600,000 after purchasing an additional 66,518 shares in the last quarter. Rhumbline Advisers lifted its position in shares of nLight by 8.4% during the second quarter. Rhumbline Advisers now owns 75,545 shares of the company's stock valued at $1,487,000 after purchasing an additional 5,828 shares in the last quarter. American Century Companies Inc. lifted its position in shares of nLight by 7.2% during the 2nd quarter. American Century Companies Inc. now owns 107,417 shares of the company's stock worth $2,114,000 after buying an additional 7,179 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in nLight in the second quarter worth $600,000. Institutional investors own 83.88% of the company's stock.

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.

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