nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 18,445 Shares

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 18,445 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $75.16, for a total value of $1,386,326.20. Following the completion of the transaction, the chief financial officer directly owned 252,451 shares in the company, valued at $18,974,217.16. The trade was a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing 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 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 Price Performance

Shares of LASR opened at $69.49 on Wednesday. The company has a market capitalization of $3.92 billion, a P/E ratio of -231.63 and a beta of 2.34. nLight has a one year low of $12.45 and a one year high of $86.95. The business’s 50 day simple moving average is $68.02 and its 200-day simple moving average is $51.29.

nLight (NASDAQ:LASR) last announced its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.08 by $0.12. The business had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. nLight had a negative return on equity of 4.18% and a negative net margin of 5.08%.nLight’s revenue was up 55.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. On average, sell-side analysts anticipate that nLight will post -0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LASR. Robert W. Baird began coverage on nLight in a report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price objective on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 price objective (up from $68.00) on shares of nLight in a report on Friday, April 17th. Roth Mkm reaffirmed a “buy” rating and set a $81.00 price objective on shares of nLight in a report on Friday, April 24th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price objective on shares of nLight in a report on Friday, May 8th. Finally, Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a report 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.81.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of nLight by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock valued at $187,166,000 after purchasing an additional 125,446 shares during the period. Needham Investment Management LLC lifted its stake in shares of nLight by 3.6% in the 4th 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 during the period. Invesco Ltd. lifted its stake in shares of nLight by 32.3% in the 4th quarter. Invesco Ltd. now owns 1,399,229 shares of the company’s stock valued at $52,485,000 after purchasing an additional 341,948 shares during the period. Geode Capital Management LLC lifted its stake in shares of nLight by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,234,696 shares of the company’s stock valued at $46,320,000 after purchasing an additional 20,043 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new position in shares of nLight in the 4th quarter valued at $41,315,000. Institutional investors and hedge funds 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.