nLIGHT, Inc. (NASDAQ:LASR) has reported that its Chief Financial Officer, Joseph John Corso, has recently sold company shares in multiple transactions. According to the latest filings, Corso sold shares worth a total of $217,186. These sales occurred within a price range of $11.14 to $11.44.
The transactions, which took place on September 3rd and 4th, were part of a pre-planned trading strategy under Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks at a specific time. The plan is designed to prevent any accusations of trading on nonpublic information.
On September 3rd, Corso sold 4,461 shares of nLIGHT stock at an average price of $11.44 per share, totaling approximately $51,004. The following day, he sold an additional 14,915 shares, with prices ranging from $10.96 to $11.25 per share, with the average price coming out to $11.14 per share. This latter transaction amounted to $166,182.
The sales reported are a part of Corso's holdings, which, following the transactions, include both direct ownership of common stock and unvested restricted stock units. The filings indicate that the shares sold were not issued to or sold by Corso but were withheld to cover tax liability associated with the vesting of restricted stock units.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's current valuation and future prospects. However, it should be noted that there can be various reasons for an insider to sell shares, including personal financial planning, diversification, and liquidity needs.
nLIGHT, headquartered in Camas, Washington, specializes in the design and manufacture of high-performance lasers and laser components that are used in a variety of industrial, microfabrication, and aerospace and defense applications.
For those interested in following the company's insider transactions, nLIGHT's financial statements and insider filings are publicly available for review.
In other recent news, nLIGHT Corporation reported a robust Q2 performance, with a 13% increase in revenue to $50.5 million compared to the previous quarter. This growth was primarily driven by a 26% increase in the aerospace and defense sectors, while commercial business, including industrial and microfabrication, saw a modest growth of 1%. The company also highlighted an improved gross margin of 24%, with product gross margin reaching 30%.
In addition to these financial highlights, nLIGHT revealed the development of a 1-megawatt laser and a 50-kilowatt high-energy laser. The company has also released new products in welding and additive manufacturing. With a strong balance sheet featuring $115 million in cash and no debt, nLIGHT is well-positioned for future growth.
Looking ahead, nLIGHT anticipates continued sequential revenue growth in Q3, with estimates ranging from $53 million to $58 million. The company projects Q3 gross margin to be between 22% and 26%. Adjusted EBITDA for Q3 is expected to fall between a loss of $2 million and a gain of $1 million. These are recent developments that reflect the company's strong performance and promising outlook.
InvestingPro Insights
nLIGHT, Inc. (NASDAQ:LASR) has recently seen significant insider activity with its CFO, Joseph John Corso, selling company shares. To provide further context to these transactions and the company's financial health, here are some key metrics and InvestingPro Tips:
As of the last twelve months leading up to Q2 2024, nLIGHT has a market capitalization of $527.46 million, indicating the size and scale of the company within the industry. Despite a challenging period, the company holds a Price to Book ratio of 2.21, suggesting that the market values the company at a little over twice its book value. A noteworthy point for investors is that nLIGHT's revenue has experienced a decline, with a -11.87% change over the last twelve months as of Q2 2024.
InvestingPro Tips highlight that nLIGHT holds more cash than debt on its balance sheet, which could be a sign of financial stability. Additionally, 4 analysts have revised their earnings upwards for the upcoming period, suggesting a potential improvement in the company's financial outlook. However, it is important to note that analysts do not anticipate the company will be profitable this year, and nLIGHT has not been profitable over the last twelve months. Furthermore, the company does not pay a dividend to shareholders, which may influence investment decisions for those seeking income-generating stocks.
For a deeper dive into nLIGHT's financials and additional InvestingPro Tips, interested parties can visit InvestingPro with over 7 additional tips available to help investors make informed decisions. For instance, understanding the company's liquidity is crucial, as indicated by the tip that liquid assets exceed short-term obligations, providing nLIGHT with a cushion to cover immediate liabilities.
Investors keeping an eye on nLIGHT's stock should be aware of its volatility, as indicated by recent price total returns. The one-week price total return as of a recent date in 2024 shows a decrease of -6.14%, while the one-month return reflects a gain of 4.49%. These fluctuations underscore the importance of monitoring market trends and the company's performance closely.
The company's next earnings date is scheduled for October 31, 2024, which will be an important event for shareholders and potential investors to gain updated insights into nLIGHT's financial position and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.