nLight (NASDAQ:LASR) CFO Sells $278,259.30 in Stock

nLight (NASDAQ:LASRGet Free Report) CFO Joseph John Corso sold 3,817 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $72.90, for a total transaction of $278,259.30. Following the sale, the chief financial officer owned 169,915 shares of the company’s stock, valued at $12,386,803.50. This trade represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 Wednesday, June 3rd, Joseph John Corso sold 3,840 shares of nLight stock. The shares were sold at an average price of $77.99, for a total transaction of $299,481.60.
  • On Wednesday, May 20th, Joseph John Corso sold 35,476 shares of nLight stock. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40.
  • 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 transaction 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 transaction 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 transaction of $1,386,326.20.

nLight Stock Performance

Shares of LASR stock opened at $65.85 on Monday. The firm has a market capitalization of $3.71 billion, a PE ratio of -219.49 and a beta of 2.31. The firm has a fifty day simple moving average of $70.22 and a two-hundred day simple moving average of $55.28. nLight has a 12 month low of $16.87 and a 12 month high of $86.95.

nLight (NASDAQ:LASRGet Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $80.18 million during the quarter, compared to analyst estimates of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. nLight’s quarterly revenue was up 55.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. On average, equities analysts predict that nLight will post -0.17 earnings per share for the current fiscal year.

Key nLight News

Here are the key news stories impacting nLight this week:

  • Positive Sentiment: Analysts continue to view nLight favorably, with the stock carrying an average rating of “Moderate Buy”, which may help support longer-term confidence in the company. nLight Receives Average Rating of “Moderate Buy” from Analysts
  • Neutral Sentiment: CFO Joseph John Corso sold 3,817 shares on June 4 and 3,840 shares on June 3 under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting, which suggests routine selling rather than a change in outlook. SEC filing for CFO Joseph John Corso sale
  • Neutral Sentiment: CEO Scott H. Keeney sold 8,901 shares on June 3 and 16,089 shares on June 4, also through a 10b5-1 plan for tax withholding on vested awards; the company says the trades were planned and do not necessarily signal fundamental weakness. SEC filing for CEO Scott H. Keeney sale
  • Neutral Sentiment: Chief Accounting Officer James Nias also sold 940 shares on June 3 under the same type of pre-arranged plan, adding to the near-term insider selling activity. SEC filing for CAO James Nias sale

Analysts Set New Price Targets

Several research firms have recently issued reports on LASR. Needham & Company LLC upped their target price on shares of nLight from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Robert W. Baird began coverage on shares of nLight in a research note on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 target price for the company. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Roth Mkm reiterated a “buy” rating and issued a $81.00 target price on shares of nLight in a research note on Friday, April 24th. Finally, Stifel Nicolaus upped their target price on shares of nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Read Our Latest Stock Report on LASR

Institutional Trading of nLight

Several institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of nLight by 17.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,039 shares of the company’s stock worth $401,000 after acquiring an additional 1,036 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of nLight by 32.9% in the 1st quarter. Bank of America Corp DE now owns 235,398 shares of the company’s stock worth $13,422,000 after buying an additional 58,272 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of nLight by 12.1% in the 1st quarter. Janus Henderson Group PLC now owns 21,941 shares of the company’s stock worth $1,251,000 after buying an additional 2,361 shares during the last quarter. Amundi purchased a new position in shares of nLight in the 1st quarter worth about $1,023,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of nLight by 67.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,783 shares of the company’s stock worth $102,000 after buying an additional 721 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

nLight Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for nLight (NASDAQ:LASR)

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