nLIGHT (NASDAQ:LASR) Sets New 12-Month Low After Analyst Downgrade

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

LASR has been the subject of several other reports. Needham & Company LLC boosted their price target on nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price for the company.

Insider Activity at nLIGHT

In related news, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 155,129 shares in the company, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.35, for a total transaction of $155,250.00. Following the transaction, the chief executive officer now directly owns 1,348,891 shares in the company, valued at $13,961,021.85. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,019 shares of company stock valued at $692,565. 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 company. Point72 DIFC Ltd increased its stake in nLIGHT by 1,637.2% during the third quarter. Point72 DIFC Ltd now owns 4,152 shares of the company’s stock worth $44,000 after acquiring an additional 3,913 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 3,500 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of nLIGHT during the 3rd quarter worth $50,000. Quantbot Technologies LP increased its position in shares of nLIGHT by 25.5% during the 3rd quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after purchasing an additional 2,052 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in nLIGHT by 969.0% in the 3rd quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after buying an additional 9,690 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLIGHT Price Performance

The stock’s 50-day simple moving average is $10.94 and its 200 day simple moving average is $11.20.

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.