nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 13,038 Shares

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 13,038 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $61.96, for a total transaction of $807,834.48. Following the completion of the transaction, the chief financial officer directly owned 183,186 shares in the company, valued at $11,350,204.56. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Joseph John Corso also recently made the following trade(s):

• On Friday, March 6th, Joseph John Corso sold 12,290 shares of nLight stock. The shares were sold at an average price of $60.39, for a total value of $742,193.10.
• On Monday, December 15th, Joseph John Corso sold 66,075 shares of nLight stock. The shares were sold at an average price of $36.32, for a total value of $2,399,844.00.

nLight Stock Performance

Shares of LASR traded up $2.36 during trading hours on Monday, hitting $61.00. 1,689,616 shares of the stock were exchanged, compared to its average volume of 1,992,397. The stock’s 50-day moving average price is $49.25 and its two-hundred day moving average price is $38.16. nLight has a 12-month low of $6.20 and a 12-month high of $69.52. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -129.79 and a beta of 2.27.

nLight (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. nLight had a negative return on equity of 9.28% and a negative net margin of 8.98%.The company had revenue of $81.19 million for the quarter, compared to analyst estimates of $76.71 million. During the same quarter last year, the firm posted ($0.30) EPS. The firm’s revenue for the quarter was up 71.3% on a year-over-year basis. On average, research analysts expect that nLight will post -1.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LASR. Osaic Holdings Inc. grew its holdings in shares of nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after purchasing an additional 1,727 shares during the period. Sunbelt Securities Inc. raised its stake in nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in nLight by 155.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares during the last quarter. Financial Consulate Inc. acquired a new position in nLight in the 4th quarter valued at about $41,000. Finally, Wexford Capital LP purchased a new stake in shares of nLight in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LASR. Raymond James Financial restated a “strong-buy” rating and set a $75.00 price target on shares of nLight in a research report on Friday, February 27th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Cantor Fitzgerald boosted their target price on nLight from $40.00 to $62.50 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, nLight presently has an average rating of “Moderate Buy” and an average target price of $58.31.

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.