nLIGHT (NASDAQ:LASR) Given New $15.00 Price Target at Needham & Company LLC

nLIGHT (NASDAQ:LASR) had its price target cut by Needham & Company LLC from $16.00 to $15.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

nLIGHT Stock Up 5.0 %

Shares of NASDAQ LASR traded up $0.58 during trading on Friday, hitting $12.14. 240,222 shares of the company traded hands, compared to its average volume of 179,083. nLIGHT has a 1 year low of $8.13 and a 1 year high of $15.91. The company has a 50-day moving average price of $12.24 and a 200-day moving average price of $12.27.

nLIGHT (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.02. nLIGHT had a negative net margin of 23.81% and a negative return on equity of 17.60%. The company had revenue of $51.89 million during the quarter, compared to analysts’ expectations of $48.08 million. On average, analysts anticipate that nLIGHT will post -0.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Joseph John Corso sold 14,105 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.26, for a total transaction of $172,927.30. Following the completion of the sale, the chief financial officer now directly owns 146,601 shares of the company’s stock, valued at approximately $1,797,328.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of nLIGHT

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in nLIGHT by 12.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,357,028 shares of the company’s stock valued at $24,513,000 after buying an additional 269,000 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in nLIGHT by 18.0% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,693,821 shares of the company’s stock valued at $22,867,000 after buying an additional 258,199 shares during the last quarter. Acadian Asset Management LLC boosted its position in nLIGHT by 1,251.2% in the 3rd quarter. Acadian Asset Management LLC now owns 250,373 shares of the company’s stock valued at $2,601,000 after buying an additional 231,844 shares during the last quarter. Senvest Management LLC boosted its position in nLIGHT by 20.7% in the 4th quarter. Senvest Management LLC now owns 1,156,740 shares of the company’s stock valued at $15,616,000 after buying an additional 198,609 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its position in nLIGHT by 17.3% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock valued at $14,104,000 after buying an additional 154,273 shares during the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

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.