nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 4,191 Shares

nLight (NASDAQ:LASR) CFO Joseph Corso sold 4,191 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $40.69, for a total transaction of $170,531.79. Following the completion of the sale, the chief financial officer owned 165,724 shares in the company, valued at $6,743,309.56. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Friday, September 4th, Joseph Corso sold 3,524 shares of nLight stock. The shares were sold at an average price of $41.49, for a total transaction of $146,210.76.

nLight Price Performance

LASR opened at $41.53 on Wednesday. The firm has a market capitalization of $2.40 billion, a P/E ratio of -166.12 and a beta of 2.30. nLight has a one year low of $27.22 and a one year high of $86.95. The company has a fifty day moving average price of $58.22 and a 200-day moving average price of $64.34.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $82.59 million for 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 was up 33.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. On average, analysts expect that nLight will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

LASR has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Wall Street Zen cut nLight from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research note on Friday, July 17th. Zacks Research lowered nLight from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Needham & Company LLC upped their target price on nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.94.

Institutional Investors Weigh In On nLight

Several institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its position in shares of nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after acquiring an additional 223 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of nLight by 0.7% during the first quarter. Quantinno Capital Management LP now owns 41,808 shares of the company’s stock worth $2,384,000 after purchasing an additional 281 shares during the period. ProShare Advisors LLC boosted its holdings in shares of nLight by 2.7% during the fourth quarter. ProShare Advisors LLC now owns 13,745 shares of the company’s stock worth $516,000 after purchasing an additional 358 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of nLight by 1.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,574 shares of the company’s stock worth $997,000 after purchasing an additional 422 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of nLight by 8.0% in the fourth quarter. NewEdge Advisors LLC now owns 6,003 shares of the company’s stock worth $225,000 after purchasing an additional 443 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

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.