nLight (NASDAQ:LASR) CFO Sells $146,210.76 in Stock

nLight (NASDAQ:LASRGet Free Report) CFO Joseph Corso sold 3,524 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $41.49, for a total transaction of $146,210.76. Following the completion of the sale, the chief financial officer directly owned 162,200 shares of the company’s stock, valued at approximately $6,729,678. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Thursday, September 3rd, Joseph Corso sold 4,191 shares of nLight stock. The shares were sold at an average price of $40.69, for a total transaction of $170,531.79.

nLight Price Performance

Shares of NASDAQ:LASR opened at $39.29 on Friday. nLight has a 12 month low of $27.22 and a 12 month high of $86.95. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -157.16 and a beta of 2.30. The stock’s 50 day moving average price is $57.22 and its 200 day moving average price is $64.12.

nLight (NASDAQ:LASRGet Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $82.59 million during the quarter, compared to the consensus estimate of $78.58 million. nLight had a negative return on equity of 2.83% and a negative net margin of 4.02%.The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, sell-side analysts expect that nLight will post -0.19 EPS for the current year.

Institutional Investors Weigh In On nLight

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of nLight during the second quarter valued at $339,687,000. California State Teachers Retirement System increased its stake in nLight by 7,636.1% in the 2nd quarter. California State Teachers Retirement System now owns 4,262,345 shares of the company’s stock worth $296,744,000 after purchasing an additional 4,207,248 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in nLight in the 4th quarter worth about $41,315,000. AWM Investment Company Inc. acquired a new stake in nLight during the 2nd quarter worth about $65,374,000. Finally, Invesco Ltd. raised its holdings in nLight by 377.2% during the 3rd quarter. Invesco Ltd. now owns 1,057,281 shares of the company’s stock worth $31,327,000 after buying an additional 835,720 shares during the period. 83.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LASR has been the subject of several research reports. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research cut shares of nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Friday, July 17th. Craig Hallum lifted their price objective on shares of nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, UBS Group set a $90.00 price objective on shares of nLight in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, nLight presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.94.

View Our Latest Report on LASR

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.

Further Reading

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

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