nLIGHT (NASDAQ:LASR) PT Lowered to $15.00

nLIGHT (NASDAQ:LASR) had its price objective decreased by Needham & Company LLC from $16.00 to $15.00 in a research note released on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

nLIGHT Stock Up 5.0 %

Shares of nLIGHT stock traded up $0.58 during midday trading on Friday, reaching $12.14. 240,222 shares of the company’s stock traded hands, compared to its average volume of 179,083. nLIGHT has a 52 week low of $8.13 and a 52 week high of $15.91. The company’s 50 day simple moving average is $12.24 and its 200 day simple moving average is $12.27.

nLIGHT (NASDAQ:LASR) last posted its earnings results on Thursday, February 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. nLIGHT had a negative net margin of 23.81% and a negative return on equity of 17.60%. The business had revenue of $51.89 million for the quarter, compared to analyst estimates of $48.08 million. Sell-side analysts forecast that nLIGHT will post -0.93 earnings per share for the current fiscal year.

Insider Activity at nLIGHT

In related news, CFO Joseph John Corso sold 14,105 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.26, for a total value of $172,927.30. Following the transaction, the chief financial officer now directly owns 146,601 shares in the company, valued at approximately $1,797,328.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of nLIGHT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Senvest Management LLC grew its position in nLIGHT by 20.7% in the 4th quarter. Senvest Management LLC now owns 1,156,740 shares of the company’s stock worth $15,616,000 after purchasing an additional 198,609 shares during the last quarter. Bank of New York Mellon Corp grew its position in nLIGHT by 12.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,357,028 shares of the company’s stock worth $24,513,000 after purchasing an additional 269,000 shares during the last quarter. Acadian Asset Management LLC grew its position in nLIGHT by 1,251.2% in the 3rd quarter. Acadian Asset Management LLC now owns 250,373 shares of the company’s stock worth $2,601,000 after purchasing an additional 231,844 shares during the last quarter. Vanguard Group Inc. grew its position in nLIGHT by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,995,388 shares of the company’s stock worth $51,952,000 after purchasing an additional 58,689 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of nLIGHT during the 3rd quarter worth about $131,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.

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.