Needham & Company LLC Issues Pessimistic Forecast for nLIGHT (NASDAQ:LASR) Stock Price

nLIGHT (NASDAQ:LASR) had its target price lowered by Needham & Company LLC from $16.00 to $14.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald started coverage on nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target on the stock. Stifel Nicolaus dropped their target price on shares of nLIGHT from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

nLIGHT Trading Up 4.1 %

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

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

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 155,129 shares of the company’s stock, valued at $1,694,008.68. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott H. Keeney sold 12,013 shares of the company’s stock in a transaction on 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 owns 1,340,146 shares of the company’s stock, valued at $13,347,854.16. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,019 shares of company stock worth $692,565 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nLIGHT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd bought a new stake in shares of nLIGHT in the 4th quarter worth about $33,000. Point72 DIFC Ltd boosted its position in nLIGHT by 1,637.2% in the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock valued at $44,000 after buying an additional 3,913 shares in the last quarter. nVerses Capital LLC grew its stake in nLIGHT by 500.0% during 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in nLIGHT during the third quarter worth about $50,000. Finally, Quantbot Technologies LP increased 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 worth $108,000 after buying an additional 2,052 shares in the last quarter. 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.