nLIGHT (NASDAQ:LASR) Price Target Lowered to $15.00 at Needham & Company LLC

nLIGHT (NASDAQ:LASR) had its price objective cut by investment analysts at Needham & Company LLC from $16.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 23.56% from the company’s previous close.

nLIGHT Trading Up 5.0 %

LASR opened at $12.14 on Friday. The stock’s 50-day moving average price is $12.24 and its 200 day moving average price is $12.29. nLIGHT has a 12-month low of $8.13 and a 12-month high of $15.91. The firm has a market cap of $577.41 million, a price-to-earnings ratio of -11.90 and a beta of 2.42.

nLIGHT (NASDAQ:LASR) last posted its earnings results on Thursday, February 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. The firm had revenue of $51.89 million for the quarter, compared to analyst estimates of $48.08 million. nLIGHT had a negative return on equity of 17.60% and a negative net margin of 23.81%. On average, research analysts forecast that nLIGHT will post -0.93 earnings per share for the current year.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 14,105 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $12.26, for a total value of $172,927.30. Following the sale, the chief financial officer now owns 146,601 shares of the company’s stock, valued at approximately $1,797,328.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nLIGHT

A number of hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its position in nLIGHT by 112.0% in the 1st quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock valued at $857,000 after purchasing an additional 34,844 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of nLIGHT by 79.1% in the 1st quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company’s stock valued at $284,000 after acquiring an additional 9,635 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of nLIGHT by 1.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,711,135 shares of the company’s stock valued at $22,245,000 after acquiring an additional 17,314 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of nLIGHT by 0.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 231,391 shares of the company’s stock valued at $3,008,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new position in shares of nLIGHT in the 4th quarter valued at about $1,139,000. Institutional investors and hedge funds 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.