Needham & Company LLC Has Lowered Expectations for nLIGHT (NASDAQ:LASR) Stock Price

nLIGHT (NASDAQ:LASR) had its target price dropped by investment analysts at Needham & Company LLC from $16.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 26.13% from the stock’s current price.

Several other equities research analysts have also recently issued reports on LASR. Cantor Fitzgerald assumed coverage on nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective on the stock. Stifel Nicolaus decreased their price target on 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

Shares of LASR opened at $11.10 on Tuesday. nLIGHT has a 1 year low of $9.15 and a 1 year high of $14.75. The company’s 50 day simple moving average is $10.77 and its 200 day simple moving average is $11.19. The company has a market capitalization of $537.57 million, a price-to-earnings ratio of -10.78 and a beta of 2.19.

Insider Activity

In related news, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.35, for a total transaction of $155,250.00. Following the transaction, the chief executive officer now owns 1,348,891 shares in the company, valued at approximately $13,961,021.85. The trade was a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $27,300.00. Following the sale, the chief financial officer now directly 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 ownership of the stock. 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. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of nLIGHT by 13.0% during the 2nd quarter. American Century Companies Inc. now owns 69,886 shares of the company’s stock valued at $764,000 after buying an additional 8,064 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of nLIGHT by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company’s stock worth $12,547,000 after purchasing an additional 47,267 shares in the last quarter. XTX Topco Ltd lifted its position in shares of nLIGHT by 221.9% during the second quarter. XTX Topco Ltd now owns 32,611 shares of the company’s stock worth $356,000 after purchasing an additional 22,479 shares in the last quarter. Sei Investments Co. boosted its stake in shares of nLIGHT by 3.3% in the second quarter. Sei Investments Co. now owns 108,376 shares of the company’s stock valued at $1,185,000 after purchasing an additional 3,436 shares during the period. Finally, Squarepoint Ops LLC boosted its position in nLIGHT by 6.7% in the 2nd quarter. Squarepoint Ops LLC now owns 52,823 shares of the company’s stock valued at $577,000 after buying an additional 3,332 shares during the last quarter. Institutional investors and hedge funds 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.