nLight (NASDAQ:LASR) CFO Sells $1,386,326.20 in Stock

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 18,445 shares of nLight stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $75.16, for a total transaction of $1,386,326.20. Following the transaction, the chief financial officer directly owned 252,451 shares of the company’s stock, valued at approximately $18,974,217.16. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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, 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 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, 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 Stock Up 7.2%

nLight stock opened at $76.43 on Friday. The company has a market capitalization of $4.31 billion, a P/E ratio of -254.76 and a beta of 2.34. The stock’s 50 day moving average is $68.47 and its 200 day moving average is $51.88. nLight has a twelve month low of $13.38 and a twelve month high of $86.95.

nLight (NASDAQ:LASR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.12. The firm had revenue of $80.18 million during the quarter, compared to analyst estimates of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.nLight’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, equities analysts expect that nLight will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of recent analyst reports. Roth Mkm reiterated a “buy” rating and set a $81.00 price target on shares of nLight in a report on Friday, April 24th. Robert W. Baird initiated coverage on shares of nLight in a report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price target on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of nLight in a report on Friday, May 8th. Needham & Company LLC increased their price target on shares of nLight from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Key Stories Impacting 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.

Institutional Trading of nLight

Institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its holdings in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after acquiring an additional 647 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of nLight during the 4th quarter valued at about $41,000. Finally, Wexford Capital LP purchased a new stake in shares of nLight during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

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.