nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso Sells 4,461 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso sold 4,461 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

nLIGHT Price Performance

Shares of LASR opened at $10.99 on Friday. The firm has a market cap of $522.74 million, a P/E ratio of -10.77 and a beta of 2.36. The stock has a 50 day simple moving average of $11.54 and a two-hundred day simple moving average of $12.12. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.00.

nLIGHT (NASDAQ:LASR) last issued its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. nLIGHT’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, equities analysts anticipate that nLIGHT, Inc. will post -0.96 earnings per share for the current year.

Institutional Trading of nLIGHT

Several hedge funds and other institutional investors have recently bought and sold shares of LASR. Pinnacle Associates Ltd. boosted its stake in nLIGHT by 18.1% in the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after buying an additional 309,634 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in nLIGHT by 17.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock valued at $14,104,000 after purchasing an additional 154,273 shares during the last quarter. Divisar Capital Management LLC lifted its position in nLIGHT by 9.4% in the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after purchasing an additional 133,023 shares during the last quarter. Invenomic Capital Management LP bought a new stake in nLIGHT in the fourth quarter valued at approximately $1,139,000. Finally, Dimensional Fund Advisors LP lifted its position in nLIGHT by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company’s stock valued at $12,547,000 after purchasing an additional 47,267 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on LASR shares. Benchmark reissued a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of nLIGHT in a report on Monday, August 5th.

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.