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 transaction, the chief financial officer owned 177,572 shares in the company, valued at $12,501,068.80. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $61.96, for a total value of $807,834.48.
nLight Stock Up 2.8%
Shares of LASR opened at $78.54 on Friday. nLight has a 12-month low of $13.45 and a 12-month high of $86.95. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -261.79 and a beta of 2.34. The stock’s 50-day moving average price is $68.72 and its 200 day moving average price is $52.06.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on LASR. William Blair began coverage on nLight in a research note on Friday, March 27th. They issued an “outperform” rating on the stock. 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. Needham & Company LLC upped their price objective on nLight from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wall Street Zen upgraded nLight from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus upped their price objective on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday. One equities 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. According to data from MarketBeat, nLight currently has an average rating of “Moderate Buy” and a consensus target price of $69.06.
View Our Latest Analysis on LASR
More nLight News
Here are the key news stories impacting nLight this week:
- Positive Sentiment: nLight’s recent quarterly results beat expectations, with EPS of $0.20 versus $0.08 expected and revenue of $80.18 million versus $72.14 million expected. Revenue also rose 55.2% year over year, reinforcing the view that business momentum remains strong.
- Positive Sentiment: Research coverage has stayed constructive, including reports highlighting nLight as a strong momentum stock and multiple bullish analyst ratings, which can help support investor confidence in LASR.
- Neutral Sentiment: Several executives, including CEO Scott H. Keeney, CFO Joseph John Corso, and CAO James Nias, sold shares recently. The filings say the trades were made under pre-arranged Rule 10b5-1 plans and to cover tax withholding on vested equity awards, which makes them less concerning than discretionary selling.
- Negative Sentiment: Even though the insider sales appear routine, the volume of selling from top executives may still weigh on sentiment in the short term as some investors interpret it as profit-taking after a sharp run-up in the share price.
Institutional Investors Weigh In On nLight
Several large investors have recently modified their holdings of LASR. Osaic Holdings Inc. grew its stake in shares of nLight by 1,599.1% in the 2nd 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. boosted its holdings in shares of nLight by 7,142.9% in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of nLight by 155.9% in 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 in the last quarter. Financial Consulate Inc. acquired a new position in shares of nLight in the 4th quarter worth approximately $41,000. Finally, Wexford Capital LP acquired a new position in shares of nLight in the 3rd quarter worth approximately $41,000. 83.88% of the stock is currently owned by institutional investors.
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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