nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 35,476 Shares

Key Points

• nLight CFO Joseph John Corso sold 35,476 shares on May 20 at an average price of $70.40, totaling about $2.50 million. The transaction reduced his stake by 16.65% and was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vested equity awards.
• The company recently posted strong quarterly results, reporting EPS of $0.20 versus $0.08 expected and revenue of $80.18 million versus $72.14 million expected. Revenue jumped 55.2% year over year, though nLight still showed negative margins.
• Analysts remain broadly positive on LASR, with several firms reiterating or raising buy ratings and price targets as high as $100. MarketBeat data shows a consensus rating of “Moderate Buy” with an average target price of $69.06.

nLight (NASDAQ:LASR - Get Free Report) CFO Joseph John Corso sold 35,476 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total value of $2,497,510.40. Following the completion of the transaction, the chief financial officer owned 177,572 shares in the company, valued at $12,501,068.80. This trade represents a 16.65% decrease in their position. The sale was disclosed in a filing 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 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 stock was sold at an average price of $75.16, for a total value of $1,386,326.20.
• On Friday, March 6th, Joseph John Corso sold 12,290 shares of nLight stock. The stock was sold at an average price of $60.39, for a total value of $742,193.10.
• On Thursday, March 5th, Joseph John Corso sold 13,038 shares of nLight stock. The stock was sold at an average price of $61.96, for a total value of $807,834.48.

nLight Price Performance

Shares of NASDAQ LASR traded up $5.13 during trading hours on Thursday, hitting $76.43. 1,031,993 shares of the company's stock were exchanged, compared to its average volume of 1,345,495. nLight has a 1-year low of $13.38 and a 1-year high of $86.95. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -254.76 and a beta of 2.34. The company's 50-day moving average price is $68.47 and its 200-day moving average price is $51.88.

nLight (NASDAQ:LASR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.08 by $0.12. The firm had revenue of $80.18 million during the quarter, compared to analysts' expectations of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.The company's revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, research analysts expect that nLight will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of nLight in a report on Tuesday, April 21st. Raymond James Financial reiterated a "strong-buy" rating and issued a $100.00 price objective on shares of nLight in a research note on Friday, May 8th. Robert W. Baird began coverage on nLight in a research note on Wednesday, March 4th. They issued an "outperform" rating and a $95.00 price objective on the stock. Cantor Fitzgerald upped their price objective on nLight from $40.00 to $62.50 and gave the company an "overweight" rating in a research note on Friday, February 27th. Finally, Wall Street Zen upgraded nLight from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $69.06.

Institutional Investors Weigh In On nLight

A number of large investors have recently bought and sold shares of LASR. Osaic Holdings Inc. grew its position in nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after acquiring an additional 1,727 shares during the last quarter. Sunbelt Securities Inc. grew its position in nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company's stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company's stock worth $40,000 after acquiring an additional 647 shares during the last quarter. Financial Consulate Inc. bought a new stake in nLight during the 4th quarter worth approximately $41,000. Finally, Wexford Capital LP bought a new stake in nLight during the 3rd quarter worth approximately $41,000. 83.88% of the stock is currently owned by institutional investors.

Trending Headlines about nLight

Here are the key news stories impacting nLight this week:

• Positive Sentiment: nLight reported strong quarterly results earlier this month, with EPS of $0.20 versus estimates of $0.08 and revenue of $80.18 million versus expectations of $72.14 million. Revenue also rose 55.2% year over year, reinforcing the company’s growth story and helping support the stock.
• Positive Sentiment: Analysts remain broadly constructive, with several firms reiterating or raising buy ratings and price targets, including targets as high as $100. That suggests the market still sees room for more upside in LASR.
• Neutral Sentiment: Multiple insider sales were disclosed by CEO Scott H. Keeney, CFO Joseph John Corso, and CAO James Nias. The company said the trades were made under pre-arranged 10b5-1 plans and to cover tax withholding tied to vesting equity awards, which makes them less concerning than discretionary selling.
• Neutral Sentiment: The selling was sizable in dollar terms, especially from the CEO and CFO, so investors may still view it as a sentiment headwind even though the transactions appear routine.

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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