Needham & Company LLC Cuts nLIGHT (NASDAQ:LASR) Price Target to $14.00

nLIGHT (NASDAQ:LASR) had its price objective reduced by Needham & Company LLC from $16.00 to $14.00 in a research note published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

LASR has been the subject of several other reports. Cantor Fitzgerald began coverage on nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target for the company. Stifel Nicolaus lowered their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

nLIGHT Trading Up 4.1 %

Shares of NASDAQ:LASR opened at $12.05 on Tuesday. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $11.20. nLIGHT has a twelve month low of $9.15 and a twelve month high of $14.75. The company has a market capitalization of $583.58 million, a PE ratio of -11.70 and a beta of 2.19.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.13). The firm had revenue of $56.13 million for the quarter, compared to analyst estimates of $55.71 million. nLIGHT had a negative return on equity of 19.53% and a negative net margin of 24.16%. During the same period last year, the firm earned ($0.24) EPS. As a group, equities research analysts predict that nLIGHT will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were 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 in the company, valued at $1,694,008.68. The trade was a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott H. Keeney sold 12,013 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total value of $119,649.48. Following the completion of the transaction, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at $13,347,854.16. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,019 shares of company stock valued at $692,565. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

Several large investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of nLIGHT during the 4th quarter worth approximately $33,000. Point72 DIFC Ltd grew its stake in nLIGHT by 1,637.2% during the 3rd quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after buying an additional 3,913 shares during the last quarter. nVerses Capital LLC increased its position in nLIGHT by 500.0% in the third 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 in the third quarter valued at $50,000. Finally, Quantbot Technologies LP boosted its holdings in shares of nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after acquiring an additional 2,052 shares during the period. Institutional investors own 83.88% of the company’s stock.

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.