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

nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso sold 2,500 shares of the company’s 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 sale, the chief financial officer now owns 136,138 shares in the company, 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 filing with the SEC, which is available through this hyperlink.

nLIGHT Price Performance

Shares of nLIGHT stock opened at $9.06 on Thursday. The company has a 50-day moving average of $10.63 and a 200 day moving average of $10.96. The firm has a market cap of $438.77 million, a price-to-earnings ratio of -8.80 and a beta of 2.29. nLIGHT, Inc. has a 1 year low of $7.94 and a 1 year high of $14.73.

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

Hedge Funds Weigh In On nLIGHT

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

Wall Street Analysts Forecast Growth

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

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.