Additionally, Corso had 1,963 shares withheld to cover tax liabilities related to the vesting of restricted stock units, priced at $11.06 per share. These shares were not issued to or sold by Corso, resulting in a transaction value of $21,710 for these withheld shares.The filing highlights Corso's ongoing involvement in managing his equity position in the company amidst his executive duties. With analyst price targets ranging from $12 to $20, investors seeking deeper insights into insider trading patterns and comprehensive financial analysis can access the full Pro Research Report on InvestingPro. With analyst price targets ranging from $12 to $20, investors seeking deeper insights into insider trading patterns and comprehensive financial analysis can access the full Pro Research Report on InvestingPro.
Additionally, Corso had 1,963 shares withheld to cover tax liabilities related to the vesting of restricted stock units, priced at $11.06 per share. These shares were not issued to or sold by Corso, resulting in a transaction value of $21,710 for these withheld shares.The filing highlights Corso's ongoing involvement in managing his equity position in the company amidst his executive duties. With analyst price targets ranging from $12 to $20, investors seeking deeper insights into insider trading patterns and comprehensive financial analysis can access the full Pro Research Report on InvestingPro.
Additionally, Corso had 1,963 shares withheld to cover tax liabilities related to the vesting of restricted stock units, priced at $11.06 per share. These shares were not issued to or sold by Corso, resulting in a transaction value of $21,710 for these withheld shares.
The filing highlights Corso's ongoing involvement in managing his equity position in the company amidst his executive duties.
In other recent news, nLIGHT (NASDAQ:LASR), Inc. reported an 11% year-over-year revenue increase, reaching $56.1 million in Q3 2024. This growth was primarily driven by the company's aerospace and defense segment, which recorded a record revenue of $30.3 million due to strong sales in directed energy products and laser sensing programs. However, the company is also managing a transition of manufacturing operations from Shanghai to Thailand and the U.S.
nLIGHT launched the Corona AFX-2000, a new 2-kilowatt laser for metal additive manufacturing, and ended the quarter with $107 million in cash and no debt. The company's Q4 2024 revenue is projected to be between $49 million and $54 million, with the aerospace and defense products expected to show sequential growth. Despite the positive outlook, nLIGHT reported a $900,000 inventory write-off, impacting margins by 200 basis points.
The company is actively focusing on the HELSI 2 program, a $171 million Department of Defense-funded initiative, which is driving backlog growth with orders in directed energy and sensing sectors. However, nLIGHT also experienced a 41% decline in industrial revenue to $11.6 million due to competition and weak demand. These are among the recent developments for nLIGHT, Inc. as it continues to navigate a complex market landscape.
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