nLIGHT (NASDAQ:LASR) Price Target Cut to $14.00 by Analysts at Stifel Nicolaus

nLIGHT (NASDAQ:LASR) had its target price trimmed by Stifel Nicolaus from $17.00 to $14.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on LASR. Needham & Company LLC lifted their price target on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald began coverage on nLIGHT in a report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 target price on the stock.

nLIGHT Price Performance

LASR opened at $9.88 on Wednesday. The firm has a market capitalization of $478.49 million, a price-to-earnings ratio of -9.59 and a beta of 2.19. nLIGHT has a one year low of $9.15 and a one year high of $14.75. The business has a 50 day simple moving average of $10.85 and a two-hundred day simple moving average of $11.19.

Insider Transactions at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares in the company, valued at approximately $18,505,033.13. This represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 2,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the sale, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,019 shares of company stock valued at $692,565 over the last quarter. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nLIGHT

Large investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd boosted its holdings in shares of 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 purchasing an additional 3,913 shares during the period. nVerses Capital LLC boosted its stake in nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after buying an additional 3,500 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in nLIGHT during the third quarter valued at $50,000. Quantbot Technologies LP raised its stake in shares of nLIGHT by 25.5% in the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after acquiring an additional 2,052 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock worth $114,000 after acquiring an additional 9,690 shares during the last quarter. 83.88% of the stock is owned by 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.