nLIGHT (NASDAQ:LASR) Sets New 12-Month Low on Analyst Downgrade

nLIGHT, Inc. (NASDAQ:LASR) reached a new 52-week low during trading 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 trading hands. The stock had previously closed at $11.09.

A number of other analysts have also commented on the stock. Cantor Fitzgerald assumed coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the stock. Needham & Company LLC boosted their price target on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Insider Activity

In other news, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.35, for a total value of $155,250.00. Following the sale, the chief executive officer now directly owns 1,348,891 shares of the company’s stock, valued at approximately $13,961,021.85. This represents a 1.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 2,500 shares of nLIGHT stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the transaction, the chief financial officer now owns 155,129 shares of the company’s stock, valued at $1,694,008.68. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,019 shares of company stock valued at $692,565. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

nLIGHT Trading 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 stock’s 50 day moving average is $10.85 and its 200 day moving average is $11.19.

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.