nLIGHT, Inc. (NASDAQ:LASR) CFO Joseph John Corso has sold 14,105 shares of the company's common stock, according to a recent SEC filing. The transactions, carried out on March 18, 2024, totaled approximately $172,927, with shares sold at prices ranging from $12.18 to $12.42. The weighted average price per share was $12.26.
The sale was conducted under a prearranged 10b5-1 trading plan, a tool that allows insiders to sell shares at predetermined times to avoid accusations of insider trading. Following the sale, Corso's remaining stake in the company includes common stock and unvested restricted stock units, now totaling 146,601 shares.
Investors often watch insider sales for signals about executives' confidence in their company's prospects. However, sales made under 10b5-1 plans, such as Corso's, are scheduled in advance and thus less likely to reflect immediate concerns or expectations regarding the company's future.
nLIGHT, headquartered in Camas, Washington, specializes in semiconductor and related devices manufacturing. The company has undergone name changes in its history, previously known as nLIGHT Photonics Corp, and continues to be a key player in the semiconductor industry.
InvestingPro Insights
nLIGHT, Inc. (NASDAQ:LASR) CFO's recent sale of shares has put the company's stock performance and financial health in the spotlight. InvestingPro data provides a snapshot of nLIGHT's current market standing. The company holds a market capitalization of approximately $602.94 million, with a negative P/E ratio of -14.05, reflecting investor sentiment about its earnings. This aligns with the recent performance metrics, indicating a revenue decline of 13.28% over the last twelve months as of Q4 2023.
Despite the revenue challenges, nLIGHT's balance sheet shows some strengths. An InvestingPro Tip points out that the company holds more cash than debt, suggesting a degree of financial stability. Additionally, liquid assets exceed short-term obligations, which could provide some cushion against operational headwinds. However, challenges remain as analysts have revised their earnings expectations downwards for the upcoming period, and the company's gross profit margins are considered weak at 21.97%. Moreover, the stock's price volatility and analyst projections that the company will not be profitable this year highlight potential risks for investors.
For those considering a deeper dive into nLIGHT's financials and stock performance, InvestingPro offers additional analysis. There are 6 more InvestingPro Tips available that could provide further insights into the company's prospects. To access these tips, visit https://www.investing.com/pro/LASR and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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