nLIGHT (NASDAQ:LASR - Free Report) had its price target increased by Needham & Company LLC from $15.00 to $16.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other equities analysts have also recently commented on LASR. Cantor Fitzgerald began coverage on nLIGHT in a research note on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price target on the stock. Benchmark reiterated a "speculative buy" rating and set a $17.00 price target on shares of nLIGHT in a report on Friday, August 2nd.
Get Our Latest Stock Report on LASR
nLIGHT Trading Down 23.5 %
Shares of NASDAQ:LASR traded down $3.45 on Friday, reaching $11.23. 1,451,542 shares of the company traded hands, compared to its average volume of 347,657. The stock has a market capitalization of $540.50 million, a P/E ratio of -10.40 and a beta of 2.33. The business's 50-day simple moving average is $11.25 and its 200 day simple moving average is $11.71. nLIGHT has a 52 week low of $9.52 and a 52 week high of $15.00.
Insider Buying and Selling
In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the sale, the chief financial officer now directly owns 171,434 shares in the company, valued at approximately $1,961,204.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Scott H. Keeney sold 15,000 shares of the business's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $11.20, for a total transaction of $168,000.00. Following the completion of the sale, the chief executive officer now owns 1,347,781 shares of the company's stock, valued at $15,095,147.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph John Corso sold 4,461 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the sale, the chief financial officer now owns 171,434 shares of the company's stock, valued at $1,961,204.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,461 shares of company stock valued at $591,634 over the last ninety days. Company insiders own 6.10% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Divisar Capital Management LLC lifted its holdings in nLIGHT by 9.4% during the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company's stock valued at $16,897,000 after purchasing an additional 133,023 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in nLIGHT by 112.0% in the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company's stock worth $857,000 after buying an additional 34,844 shares during the period. Vanguard Group Inc. increased its stake in nLIGHT by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company's stock worth $65,855,000 after buying an additional 23,697 shares in the last quarter. ProShare Advisors LLC raised its holdings in nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company's stock valued at $150,000 after acquiring an additional 1,503 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of nLIGHT by 79.1% in the first quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company's stock valued at $284,000 after acquiring an additional 9,635 shares in the last quarter. Institutional investors own 83.88% of the company's stock.
About nLIGHT
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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.
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