Needham & Company LLC Issues Pessimistic Forecast for nLIGHT (NASDAQ:LASR) Stock Price

nLIGHT (NASDAQ:LASR - Free Report) had its target price lowered by Needham & Company LLC from $16.00 to $14.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on LASR. Cantor Fitzgerald began coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They set an "overweight" rating and a $15.50 price target for the company. Stifel Nicolaus reduced their price objective on shares of nLIGHT from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th.

nLIGHT Stock Performance

NASDAQ:LASR traded up $0.37 during trading hours on Tuesday, hitting $11.47. The company's stock had a trading volume of 416,936 shares, compared to its average volume of 447,105. nLIGHT has a 52-week low of $9.15 and a 52-week high of $14.75. The business's 50-day moving average is $10.77 and its two-hundred day moving average is $11.19. The company has a market capitalization of $555.48 million, a PE ratio of -11.14 and a beta of 2.19.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 15,000 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.35, for a total value of $155,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,348,891 shares of the company's stock, valued at $13,961,021.85. This represents a 1.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph John Corso sold 2,500 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the transaction, the chief financial officer now owns 155,129 shares in the company, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,019 shares of company stock valued at $692,565. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On nLIGHT

Large investors have recently modified their holdings of the stock. American Century Companies Inc. grew its position in nLIGHT by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 69,886 shares of the company's stock worth $764,000 after purchasing an additional 8,064 shares during the last quarter. Dimensional Fund Advisors LP raised its position in nLIGHT by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company's stock valued at $12,547,000 after acquiring an additional 47,267 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of nLIGHT by 221.9% in the second quarter. XTX Topco Ltd now owns 32,611 shares of the company's stock worth $356,000 after buying an additional 22,479 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of nLIGHT by 3.3% during the second quarter. Sei Investments Co. now owns 108,376 shares of the company's stock worth $1,185,000 after buying an additional 3,436 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of 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 acquiring an additional 3,332 shares during the period. Institutional investors own 83.88% of the company's stock.

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.