Needham & Company LLC Cuts nLIGHT (NASDAQ:LASR) Price Target to $14.00

nLIGHT (NASDAQ:LASR) had its price objective reduced by equities researchers at Needham & Company LLC from $16.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 26.13% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target on the stock. Stifel Nicolaus lowered their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

nLIGHT Price Performance

LASR opened at $11.10 on Tuesday. The stock has a market capitalization of $537.57 million, a PE ratio of -10.78 and a beta of 2.19. nLIGHT has a 12-month low of $9.15 and a 12-month high of $14.75. The firm’s fifty day moving average price is $10.77 and its 200 day moving average price is $11.19.

Insider Activity at nLIGHT

In related news, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the completion of the sale, the chief financial officer now directly owns 155,129 shares in the company, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott H. Keeney sold 12,013 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total value of $119,649.48. Following the sale, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at approximately $13,347,854.16. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,019 shares of company stock worth $692,565 in the last three months. 6.10% of the stock is owned by company insiders.

Institutional Trading of nLIGHT

Several large investors have recently added to or reduced their stakes in LASR. The Manufacturers Life Insurance Company increased its holdings in shares of nLIGHT by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock valued at $204,000 after purchasing an additional 1,546 shares during the period. Quantbot Technologies LP increased 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 worth $108,000 after acquiring an additional 2,052 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of nLIGHT by 19.4% during the fourth quarter. SG Americas Securities LLC now owns 20,022 shares of the company’s stock worth $210,000 after acquiring an additional 3,250 shares in the last quarter. Squarepoint Ops LLC increased its position in nLIGHT by 6.7% in the 2nd quarter. Squarepoint Ops LLC now owns 52,823 shares of the company’s stock worth $577,000 after purchasing an additional 3,332 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of nLIGHT by 3.3% during the 2nd quarter. Sei Investments Co. now owns 108,376 shares of the company’s stock worth $1,185,000 after purchasing an additional 3,436 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

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.