nLIGHT (NASDAQ:LASR) Given New $14.00 Price Target at Stifel Nicolaus

nLIGHT (NASDAQ:LASR) had its price target lowered by equities researchers at Stifel Nicolaus from $17.00 to $14.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 45.23% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Cantor Fitzgerald initiated coverage on nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target for the company. Needham & Company LLC lifted their price target on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

nLIGHT Stock Down 13.1 %

Shares of NASDAQ LASR traded down $1.45 during trading on Wednesday, reaching $9.64. 405,026 shares of the company traded hands, compared to its average volume of 293,455. The firm has a 50 day simple moving average of $10.94 and a 200-day simple moving average of $11.20. nLIGHT has a 52-week low of $9.38 and a 52-week high of $14.75. The stock has a market capitalization of $466.86 million, a PE ratio of -9.36 and a beta of 2.19.

Insider Activity at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the sale, the chief executive officer now owns 1,347,781 shares of the company’s stock, valued at approximately $18,505,033.13. This represents a 1.10 % decrease in their ownership of the stock. The sale 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 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 completion of the sale, the chief financial officer now owns 155,129 shares of the company’s stock, valued at $1,694,008.68. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,019 shares of company stock worth $860,565. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On nLIGHT

A number of institutional investors and hedge funds have recently modified their holdings of LASR. Point72 DIFC Ltd increased its stake in nLIGHT by 1,637.2% in the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after purchasing an additional 3,913 shares during the period. nVerses Capital LLC increased its stake in nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after buying an additional 3,500 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in nLIGHT during the 3rd quarter valued at about $50,000. Quantbot Technologies LP lifted its holdings in nLIGHT by 25.5% during the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after buying an additional 2,052 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after buying an additional 9,690 shares during the period. 83.88% of the stock is owned by institutional investors.

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.