nLIGHT, Inc. (NASDAQ:LASR) CFO Sells $23,100.00 in Stock

nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso sold 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $9.24, for a total value of $23,100.00. Following the completion of the transaction, the chief financial officer now owns 136,138 shares of the company’s stock, valued at $1,257,915.12. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

nLIGHT Stock Performance

LASR stock opened at $9.27 on Friday. The company has a market capitalization of $448.94 million, a price-to-earnings ratio of -9.00 and a beta of 2.29. nLIGHT, Inc. has a fifty-two week low of $7.94 and a fifty-two week high of $14.73. The stock has a fifty day moving average of $10.58 and a 200-day moving average of $10.93.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.21). The firm had revenue of $47.38 million for the quarter, compared to the consensus estimate of $46.62 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. Equities analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on LASR. Needham & Company LLC reduced their price objective on nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus reduced their price objective on nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management lifted its holdings in nLIGHT by 47.4% during the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock worth $30,000 after purchasing an additional 935 shares in the last quarter. R Squared Ltd purchased a new stake in nLIGHT during the 4th quarter worth about $33,000. Russell Investments Group Ltd. lifted its holdings in nLIGHT by 3,951.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock worth $39,000 after purchasing an additional 3,596 shares in the last quarter. Point72 DIFC Ltd lifted its holdings in nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after purchasing an additional 3,913 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in nLIGHT during the 3rd quarter worth about $50,000. 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.