nLIGHT (NASDAQ:LASR - Free Report) had its price target cut by Stifel Nicolaus from $17.00 to $14.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.
LASR has been the subject of several other research reports. Cantor Fitzgerald began coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price target for the company. Needham & Company LLC boosted their target price on nLIGHT from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 8th.
View Our Latest Stock Report on LASR
nLIGHT Price Performance
Shares of NASDAQ LASR traded down $1.21 during midday trading on Wednesday, hitting $9.88. The company's stock had a trading volume of 1,290,163 shares, compared to its average volume of 393,529. The firm has a market capitalization of $478.48 million, a price-to-earnings ratio of -9.59 and a beta of 2.19. The business's fifty day simple moving average is $10.94 and its two-hundred day simple moving average is $11.20. nLIGHT has a 1 year low of $9.15 and a 1 year high of $14.75.
Insider Buying and Selling
In other news, CFO Joseph John Corso sold 2,500 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was 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 of the company's stock, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 12,013 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $9.96, for a total value of $119,649.48. Following the sale, the chief executive officer now owns 1,340,146 shares of the company's stock, valued at approximately $13,347,854.16. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,019 shares of company stock worth $860,565. Corporate insiders own 6.10% of the company's stock.
Hedge Funds Weigh In On nLIGHT
Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted 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 buying an additional 1,546 shares in the last quarter. Quantbot Technologies LP lifted its position in 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 last quarter. Squarepoint Ops LLC boosted its stake in nLIGHT by 6.7% in the second quarter. Squarepoint Ops LLC now owns 52,823 shares of the company's stock valued at $577,000 after acquiring an additional 3,332 shares in the last quarter. Sei Investments Co. grew 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 purchasing an additional 3,436 shares during the last quarter. Finally, nVerses Capital LLC increased its position in shares of 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 purchasing an additional 3,500 shares in the last quarter. 83.88% of the stock is currently owned by hedge funds and other institutional investors.
nLIGHT Company Profile
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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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