nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 3,524 Shares

nLight (NASDAQ:LASR) CFO Joseph Corso sold 3,524 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $41.49, for a total value of $146,210.76. Following the sale, the chief financial officer owned 162,200 shares in the company, valued at $6,729,678. The trade was a 2.13% decrease in their position. The transaction was disclosed in a filing 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, 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 Stock Up 3.7%

LASR opened at $41.53 on Wednesday. The business has a 50 day moving average of $58.22 and a 200-day moving average of $64.34. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -166.12 and a beta of 2.30. nLight has a 12-month low of $27.22 and a 12-month high of $86.95.

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

Institutional Trading of nLight

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASR. Whittier Trust Co. of Nevada Inc. bought a new position in shares of nLight in the first quarter valued at approximately $52,000. Sunbelt Securities Inc. grew its holdings in nLight by 7,142.9% during the fourth quarter. Sunbelt Securities Inc. now owns 1,014 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after buying an additional 647 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in nLight by 7,871.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,116 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in nLight in the 2nd quarter valued at $81,000. 83.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LASR has been the subject of a number of research analyst reports. Craig Hallum boosted their price target on nLight from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Stifel Nicolaus increased their price objective on nLight from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Needham & Company LLC raised their target price on nLight from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of nLight from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, nLight currently has an average rating of “Moderate Buy” and a consensus target price of $87.94.

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.