nLIGHT (NASDAQ:LASR) Hits New 1-Year Low - Time to Sell?

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $9.64 and last traded at $10.36, with a volume of 217697 shares changing hands. The stock had previously closed at $9.88.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LASR shares. 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 research report on Friday, November 8th. Cantor Fitzgerald assumed coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 target price for the company.

nLIGHT Trading Up 2.1 %

The company has a market capitalization of $488.65 million, a PE ratio of -9.80 and a beta of 2.20. The business has a fifty day moving average of $11.30 and a 200 day moving average of $11.36.

Insider Activity

In related news, CEO Scott H. Keeney sold 15,000 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total transaction of $166,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares of the company's stock, valued at $14,973,846.91. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.92, for a total value 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 $1,694,008.68. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,006 shares of company stock valued at $907,566. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nLIGHT

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP increased its holdings in nLIGHT by 9.1% in the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company's stock valued at $29,221,000 after buying an additional 227,580 shares during the last quarter. Needham Investment Management LLC boosted its position in shares of nLIGHT by 7.1% during the 3rd quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company's stock worth $24,990,000 after acquiring an additional 155,000 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of nLIGHT by 18.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company's stock valued at $22,087,000 after acquiring an additional 309,634 shares during the last quarter. Harvey Partners LLC increased its holdings in shares of nLIGHT by 56.5% in the 3rd quarter. Harvey Partners LLC now owns 1,735,000 shares of the company's stock valued at $18,547,000 after acquiring an additional 626,500 shares during the last quarter. Finally, Divisar Capital Management LLC raised its position in shares of nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company's stock worth $16,897,000 after acquiring an additional 133,023 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.