nLIGHT (NASDAQ:LASR) Reaches New 1-Year Low After Analyst Downgrade

nLIGHT, Inc. (NASDAQ:LASR)’s share price hit a new 52-week low during mid-day 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 traded. The stock had previously closed at $11.09.

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

Insiders Place Their Bets

In related news, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at $18,505,033.13. This represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of nLIGHT stock in a transaction on 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 directly owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,019 shares of company stock worth $692,565. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in shares of nLIGHT by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock worth $204,000 after buying an additional 1,546 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of nLIGHT by 25.5% in the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock valued at $108,000 after purchasing an additional 2,052 shares in the last quarter. SG Americas Securities LLC grew its position in shares of nLIGHT by 19.4% in the fourth quarter. SG Americas Securities LLC now owns 20,022 shares of the company’s stock valued at $210,000 after purchasing an additional 3,250 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of nLIGHT by 6.7% during the 2nd quarter. Squarepoint Ops LLC now owns 52,823 shares of the company’s stock worth $577,000 after purchasing an additional 3,332 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of nLIGHT by 3.3% during the 2nd quarter. Sei Investments Co. now owns 108,376 shares of the company’s stock worth $1,185,000 after purchasing an additional 3,436 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Trading Up 6.1 %

The business has a 50 day moving average of $10.77 and a 200-day moving average of $11.19. The stock has a market cap of $537.57 million, a PE ratio of -10.78 and a beta of 2.19.

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.