nLIGHT (NASDAQ:LASR) PT Lowered to $12.00

nLIGHT (NASDAQ:LASRGet Rating) had its price objective lowered by Needham & Company LLC from $16.00 to $12.00 in a report published on Friday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Separately, DA Davidson cut their price objective on shares of nLIGHT to $23.00 in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, nLIGHT currently has a consensus rating of Buy and an average price target of $20.75.

nLIGHT Stock Performance

LASR stock opened at $9.90 on Friday. nLIGHT has a one year low of $8.22 and a one year high of $30.31. The firm has a market cap of $446.45 million, a price-to-earnings ratio of -10.76 and a beta of 2.29. The firm has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $11.45.

Hedge Funds Weigh In On nLIGHT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in nLIGHT by 121.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,460 shares of the company’s stock worth $25,000 after buying an additional 800 shares during the period. Diversified Trust Co acquired a new position in nLIGHT in the 2nd quarter worth approximately $123,000. Amalgamated Bank acquired a new position in nLIGHT in the 1st quarter worth approximately $123,000. Arizona State Retirement System increased its holdings in nLIGHT by 12.4% in the 2nd quarter. Arizona State Retirement System now owns 12,015 shares of the company’s stock worth $123,000 after buying an additional 1,330 shares during the period. Finally, Quantbot Technologies LP increased its holdings in nLIGHT by 54.9% in the 3rd quarter. Quantbot Technologies LP now owns 13,074 shares of the company’s stock worth $123,000 after buying an additional 4,636 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

nLIGHT Company Profile

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nLIGHT, Inc designs, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments, Laser Products and Advanced Development. The company also provides fiber amplifiers, and beam combination and control systems for use in high-energy laser systems in directed energy applications.

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