nLight (NASDAQ:LASR - Get Free Report) CFO Joseph John Corso sold 3,840 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total value of $299,481.60. Following the sale, the chief financial officer directly owned 173,732 shares of the company's stock, valued at $13,549,358.68. This represents a 2.16% decrease in their position. The transaction was disclosed in a document filed 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 Thursday, June 4th, Joseph John Corso sold 3,817 shares of nLight stock. The shares were sold at an average price of $72.90, for a total value of $278,259.30.
- 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 shares were 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 shares were 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 stock was sold at an average price of $75.16, for a total transaction of $1,386,326.20.
nLight Stock Down 12.1%
NASDAQ:LASR traded down $9.04 during trading hours on Friday, reaching $65.85. The company had a trading volume of 1,160,903 shares, compared to its average volume of 1,511,003. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -219.49 and a beta of 2.31. The business's 50-day simple moving average is $70.34 and its two-hundred day simple moving average is $55.03. nLight has a twelve month low of $16.87 and a twelve month high of $86.95.
nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.12. The firm 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 business's quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. As a group, equities analysts predict that nLight will post -0.17 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on LASR shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of nLight in a report on Tuesday, April 21st. Robert W. Baird assumed 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. Wall Street Zen upgraded nLight from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Needham & Company LLC lifted their price target on shares of nLight from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, nLight has a consensus rating of "Moderate Buy" and a consensus price target of $69.06.
Check Out Our Latest Analysis on nLight
Hedge Funds Weigh In On nLight
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in nLight by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company's stock worth $187,166,000 after purchasing an additional 125,446 shares in the last quarter. Needham Investment Management LLC lifted its holdings in shares of nLight by 3.6% in the fourth quarter. Needham Investment Management LLC now owns 1,857,740 shares of the company's stock valued at $69,684,000 after purchasing an additional 65,000 shares in the last quarter. Invesco Ltd. boosted its position in shares of nLight by 32.3% during the fourth quarter. Invesco Ltd. now owns 1,399,229 shares of the company's stock valued at $52,485,000 after buying an additional 341,948 shares during the last quarter. Geode Capital Management LLC grew its holdings in nLight by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,234,696 shares of the company's stock worth $46,320,000 after buying an additional 20,043 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in nLight during the fourth quarter worth $41,315,000. Institutional investors and hedge funds own 83.88% of the company's stock.
nLight Company Profile
(
Get Free Report)
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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