Needham & Company LLC Increases nLIGHT (NASDAQ:LASR) Price Target to $16.00

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

A number of other research firms have also weighed in on LASR. Cantor Fitzgerald began coverage on nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 target price for the company. Benchmark reiterated a “speculative buy” rating and set a $17.00 target price on shares of nLIGHT in a research note on Friday, August 2nd.

nLIGHT Price Performance

Shares of nLIGHT stock traded down $3.45 during trading hours on Friday, reaching $11.23. The company had a trading volume of 1,451,542 shares, compared to its average volume of 347,657. nLIGHT has a one year low of $9.52 and a one year high of $15.00. The business has a fifty day simple moving average of $11.25 and a 200 day simple moving average of $11.70.

Insiders Place Their Bets

In other news, CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the sale, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at $18,505,033.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the sale, the chief financial officer now directly owns 171,434 shares in the company, valued at $1,961,204.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares in the company, valued at $18,505,033.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,461 shares of company stock valued at $591,634. 6.10% of the stock is currently owned by insiders.

Institutional Trading of nLIGHT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinnacle Associates Ltd. increased its holdings in shares of nLIGHT by 18.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after acquiring an additional 309,634 shares during the period. Royce & Associates LP boosted its holdings in shares of nLIGHT by 9.1% during the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after purchasing an additional 227,580 shares during the period. Divisar Capital Management LLC boosted its holdings in shares of nLIGHT by 9.4% during the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after purchasing an additional 133,023 shares during the period. Quest Partners LLC lifted its stake in nLIGHT by 227.4% in the third quarter. Quest Partners LLC now owns 71,979 shares of the company’s stock valued at $769,000 after acquiring an additional 49,995 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in nLIGHT by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company’s stock valued at $12,547,000 after acquiring an additional 47,267 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

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.