Needham & Company LLC Raises nLIGHT (NASDAQ:LASR) Price Target to $16.00

nLIGHT (NASDAQ:LASR) had its target price boosted by research analysts at Needham & Company LLC from $15.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 42.48% from the company’s current price.

Other research analysts have also issued research reports about the company. Benchmark restated a “speculative buy” rating and set a $17.00 price objective on shares of nLIGHT in a research report on Friday, August 2nd. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price for the company.

nLIGHT Trading Down 23.5 %

NASDAQ LASR traded down $3.45 on Friday, hitting $11.23. The company’s stock had a trading volume of 1,451,542 shares, compared to its average volume of 347,657. nLIGHT has a 52-week low of $9.52 and a 52-week high of $15.00. The company’s 50-day simple moving average is $11.25 and its 200 day simple moving average is $11.71. The firm has a market cap of $540.45 million, a P/E ratio of -10.90 and a beta of 2.33.

Insider Buying and Selling

In other news, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the transaction, the chief financial officer now owns 171,434 shares in the company, valued at $1,961,204.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the sale, the chief financial officer now owns 171,434 shares of the company’s stock, valued at $1,961,204.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $11.20, for a total value of $168,000.00. Following the transaction, the chief executive officer now owns 1,347,781 shares of the company’s stock, valued at approximately $15,095,147.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,461 shares of company stock worth $591,634 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Trading of nLIGHT

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC boosted its position in nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 3,500 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in nLIGHT by 969.0% in the third 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. Intech Investment Management LLC acquired a new stake in shares of nLIGHT in the 3rd quarter valued at about $123,000. ProShare Advisors LLC boosted its position in shares of nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after buying an additional 1,503 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of nLIGHT during the 3rd quarter valued at $136,000. 83.88% of the stock is currently 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.