nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 3,840 Shares of Stock

nLight (NASDAQ:LASR) CFO Joseph John Corso sold 3,840 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total transaction of $299,481.60. Following the transaction, the chief financial officer directly owned 173,732 shares in the company, valued at $13,549,358.68. This trade represents a 2.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, June 4th, Joseph John Corso sold 3,817 shares of nLight stock. The stock was sold at an average price of $72.90, for a total transaction of $278,259.30.
• On Wednesday, May 20th, Joseph John Corso sold 35,476 shares of nLight stock. The stock was 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 stock was 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 stock was sold at an average price of $75.16, for a total transaction of $1,386,326.20.

nLight Stock Performance

LASR opened at $65.85 on Friday. The firm’s 50-day simple moving average is $70.22 and its 200-day simple moving average is $55.10. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -219.49 and a beta of 2.31. nLight has a twelve month low of $16.87 and a twelve month high of $86.95.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The firm had revenue of $80.18 million for the quarter, compared to analyst estimates of $72.14 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue was up 55.2% on a year-over-year basis. As a group, sell-side analysts anticipate that nLight will post -0.17 EPS for the current fiscal year.

Trending Headlines about nLight

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in nLight by 1,599.1% during 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. lifted its position in nLight by 7,142.9% during the 4th quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC lifted its position in nLight by 155.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after purchasing an additional 647 shares during the period. Financial Consulate Inc. acquired a new position in nLight during the 4th quarter valued at about $41,000. Finally, Wexford Capital LP acquired a new position in nLight during the 3rd quarter valued at about $41,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LASR has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on shares of nLight in a report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a report on Tuesday, April 21st. Needham & Company LLC increased their price objective on shares of nLight from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Roth Mkm reissued a “buy” rating and set a $81.00 price objective on shares of nLight in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, nLight has an average rating of “Moderate Buy” and a consensus price target of $69.06.

About nLight

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.