nLIGHT (NASDAQ:LASR) Hits New 12-Month Low After Analyst Downgrade

nLIGHT, Inc. (NASDAQ:LASR - Get Free Report)'s share price reached a new 52-week low on Thursday after Stifel Nicolaus lowered their price target on the stock from $17.00 to $14.00. Stifel Nicolaus currently has a buy rating on the stock. nLIGHT traded as low as $9.15 and last traded at $9.88, with a volume of 1290163 shares traded. The stock had previously closed at $11.09.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC increased their price objective on nLIGHT from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Cantor Fitzgerald started coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price target for the company.

Insider Activity at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value 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 represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.35, for a total value of $155,250.00. Following 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 trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,019 shares of company stock valued at $692,565 in the last ninety days. Corporate insiders own 6.10% of the company's stock.

Institutional Trading of nLIGHT

Several institutional investors and hedge funds have recently modified their holdings of the business. Moody National Bank Trust Division acquired a new position in shares of nLIGHT during the 4th quarter worth approximately $115,000. Barclays PLC increased its position in nLIGHT by 317.7% during the third quarter. Barclays PLC now owns 70,599 shares of the company's stock worth $755,000 after buying an additional 53,699 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of nLIGHT by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,103,920 shares of the company's stock worth $11,804,000 after acquiring an additional 9,673 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of nLIGHT by 98.2% in the third quarter. Jane Street Group LLC now owns 138,646 shares of the company's stock worth $1,482,000 after acquiring an additional 68,682 shares during the last quarter. Finally, State Street Corp lifted its position in shares of nLIGHT by 1.1% in the third quarter. State Street Corp now owns 1,021,736 shares of the company's stock valued at $10,922,000 after acquiring an additional 11,132 shares in the last quarter. Hedge funds and other institutional investors own 83.88% of the company's stock.

nLIGHT Stock Up 5.9 %

The firm has a market cap of $506.58 million, a price-to-earnings ratio of -10.16 and a beta of 2.19. The business has a 50 day moving average of $10.85 and a 200 day moving average of $11.19.

nLIGHT Company Profile

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.