nLight (NASDAQ:LASR) CFO Joseph John Corso Sells 35,476 Shares

by · The Cerbat Gem

nLight (NASDAQ:LASR – Get Free Report) CFO Joseph John Corso sold 35,476 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total value of $2,497,510.40. Following the completion of the transaction, the chief financial officer owned 177,572 shares in the company, valued at $12,501,068.80. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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 value 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 value 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 value of $1,386,326.20.
  • On Friday, March 6th, Joseph John Corso sold 12,290 shares of nLight stock. The shares were sold at an average price of $60.39, for a total value of $742,193.10.
  • On Thursday, March 5th, Joseph John Corso sold 13,038 shares of nLight stock. The shares were sold at an average price of $61.96, for a total value of $807,834.48.

nLight Stock Performance

LASR traded up $5.13 during mid-day trading on Thursday, reaching $76.43. The stock had a trading volume of 1,031,993 shares, compared to its average volume of 1,345,495. The stock has a market capitalization of $4.31 billion, a P/E ratio of -254.76 and a beta of 2.34. The firm’s fifty day simple moving average is $68.47 and its two-hundred day simple moving average is $51.88. nLight has a 52 week low of $13.38 and a 52 week high of $86.95.

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

Analyst Upgrades and Downgrades

LASR has been the topic of a number of analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price target on shares of nLight in a research note on Friday, May 8th. Roth Mkm reaffirmed a “buy” rating and set a $81.00 price objective on shares of nLight in a research note on Friday, April 24th. Robert W. Baird started coverage on nLight in a research note on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price objective on the stock. Wall Street Zen raised nLight from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Cantor Fitzgerald raised their price objective on nLight from $40.00 to $62.50 and gave the stock an “overweight” rating in a research note on Friday, February 27th. One research 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 data from MarketBeat, nLight has an average rating of “Moderate Buy” and an average price target of $69.06.

Check Out Our Latest Stock Analysis on LASR

Key nLight News

Here are the key news stories impacting nLight this week:

  • Positive Sentiment: nLight reported strong quarterly results earlier this month, with EPS of $0.20 versus estimates of $0.08 and revenue of $80.18 million versus expectations of $72.14 million. Revenue also rose 55.2% year over year, reinforcing the company’s growth story and helping support the stock.
  • Positive Sentiment: Analysts remain broadly constructive, with several firms reiterating or raising buy ratings and price targets, including targets as high as $100. That suggests the market still sees room for more upside in LASR.
  • Neutral Sentiment: Multiple insider sales were disclosed by CEO Scott H. Keeney, CFO Joseph John Corso, and CAO James Nias. The company said the trades were made under pre-arranged 10b5-1 plans and to cover tax withholding tied to vesting equity awards, which makes them less concerning than discretionary selling.
  • Neutral Sentiment: The selling was sizable in dollar terms, especially from the CEO and CFO, so investors may still view it as a sentiment headwind even though the transactions appear routine.

Hedge Funds Weigh In On nLight

Several hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. grew its holdings in shares of nLight by 22.3% in the 4th 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 in the last quarter. Quantinno Capital Management LP grew its holdings in shares of nLight by 0.7% in the 1st quarter. Quantinno Capital Management LP now owns 41,808 shares of the company’s stock valued at $2,384,000 after acquiring an additional 281 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of nLight by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 13,745 shares of the company’s stock valued at $516,000 after acquiring an additional 358 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of nLight by 1.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,574 shares of the company’s stock valued at $997,000 after acquiring an additional 422 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of nLight by 8.0% in the 4th quarter. NewEdge Advisors LLC now owns 6,003 shares of the company’s stock valued at $225,000 after acquiring an additional 443 shares in 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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