Insider Selling: nLIGHT, Inc. (NASDAQ:LASR) CFO Sells 2,500 Shares of Stock

nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 136,138 shares of the company’s stock, valued at $1,257,915.12. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

nLIGHT Stock Performance

nLIGHT stock opened at $9.06 on Thursday. The company’s fifty day moving average price is $10.63 and its 200 day moving average price is $10.96. nLIGHT, Inc. has a 1 year low of $7.94 and a 1 year high of $14.73. The stock has a market capitalization of $438.77 million, a P/E ratio of -8.80 and a beta of 2.29.

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

Analyst Ratings Changes

LASR has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Needham & Company LLC reduced their price target on shares of nLIGHT from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st.

Institutional Trading of nLIGHT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its holdings in nLIGHT by 47.4% in the 4th quarter. Picton Mahoney Asset Management now owns 2,907 shares of the company’s stock valued at $30,000 after buying an additional 935 shares during the period. R Squared Ltd purchased a new stake in nLIGHT during the fourth quarter worth about $33,000. Russell Investments Group Ltd. increased its stake in nLIGHT by 3,951.6% during the fourth quarter. Russell Investments Group Ltd. now owns 3,687 shares of the company’s stock worth $39,000 after purchasing an additional 3,596 shares during the period. Point72 DIFC Ltd increased its stake in nLIGHT by 1,637.2% during the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after purchasing an additional 3,913 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in nLIGHT during the third quarter worth about $50,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

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.