Stifel Nicolaus Has Lowered Expectations for nLIGHT (NASDAQ:LASR) Stock Price

nLIGHT (NASDAQ:LASR) had its price objective dropped by analysts at Stifel Nicolaus from $17.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 33.84% from the stock’s previous close.

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

nLIGHT Trading Up 5.9 %

NASDAQ:LASR opened at $10.46 on Wednesday. nLIGHT has a 12 month low of $9.15 and a 12 month high of $14.75. The firm’s 50 day moving average is $10.85 and its 200 day moving average is $11.19. The stock has a market capitalization of $506.58 million, a PE ratio of -10.16 and a beta of 2.19.

Insiders Place Their Bets

In related news, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the completion of the transaction, the chief financial officer now owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 12,013 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $9.96, for a total transaction of $119,649.48. Following the sale, the chief executive officer now directly owns 1,340,146 shares in the company, valued at $13,347,854.16. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,019 shares of company stock worth $692,565 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LASR. Royce & Associates LP raised its position in shares of nLIGHT by 9.1% in the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after buying an additional 227,580 shares in the last quarter. Needham Investment Management LLC increased its stake in nLIGHT by 7.1% in the 3rd quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock worth $24,990,000 after acquiring an additional 155,000 shares during the last quarter. Harvey Partners LLC raised its holdings in shares of nLIGHT by 56.5% in the 3rd quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock valued at $18,547,000 after acquiring an additional 626,500 shares in the last quarter. Divisar Capital Management LLC boosted its position in shares of nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock valued at $16,897,000 after acquiring an additional 133,023 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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. 83.88% of the stock is owned by institutional investors.

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.