Joseph John Corso Sells 2,500 Shares of nLIGHT, Inc. (NASDAQ:LASR) Stock

nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso sold 2,500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $9.24, for a total transaction of $23,100.00. Following the completion of the sale, the chief financial officer now directly owns 136,138 shares in the company, valued at $1,257,915.12. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

nLIGHT Price Performance

LASR opened at $8.99 on Friday. The firm has a fifty day moving average price of $10.61 and a 200 day moving average price of $10.95. nLIGHT, Inc. has a 1 year low of $7.94 and a 1 year high of $14.73. The stock has a market cap of $435.38 million, a P/E ratio of -8.73 and a beta of 2.29.

nLIGHT (NASDAQ:LASR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). The company had revenue of $47.38 million for the quarter, compared to analyst estimates of $46.62 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. Equities analysts expect that nLIGHT, Inc. will post -1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LASR shares. Stifel Nicolaus decreased their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Needham & Company LLC decreased their target price on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st.

Hedge Funds Weigh In On nLIGHT

A number of large investors have recently added to or reduced their stakes in LASR. Senvest Management LLC raised its position in nLIGHT by 114.1% during the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company’s stock worth $26,033,000 after acquiring an additional 1,322,637 shares during the period. Harvey Partners LLC raised its position in nLIGHT by 56.5% during the third quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock worth $18,547,000 after acquiring an additional 626,500 shares during the period. Segall Bryant & Hamill LLC acquired a new position in nLIGHT during the fourth quarter worth $5,270,000. Needham Investment Management LLC raised its position in nLIGHT by 13.4% during the fourth quarter. Needham Investment Management LLC now owns 2,652,115 shares of the company’s stock worth $27,821,000 after acquiring an additional 314,375 shares during the period. Finally, Royce & Associates LP raised its position in nLIGHT by 9.1% during the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after acquiring an additional 227,580 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

nLIGHT Company Profile

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.