Needham & Company LLC Increases nLIGHT (NASDAQ:LASR) Price Target to $16.00

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

LASR has been the topic of several other research reports. Benchmark reiterated a “speculative buy” rating and issued a $17.00 price target on shares of nLIGHT in a report on Friday, August 2nd. Cantor Fitzgerald started coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price on the stock.

nLIGHT Stock Performance

NASDAQ LASR opened at $10.90 on Friday. The stock has a market cap of $524.62 million, a P/E ratio of -10.58 and a beta of 2.33. nLIGHT has a fifty-two week low of $9.80 and a fifty-two week high of $15.00. The stock has a 50 day simple moving average of $11.23 and a two-hundred day simple moving average of $11.71.

Insider Buying and Selling

In other news, CFO Joseph John Corso sold 4,461 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the sale, the chief financial officer now owns 171,434 shares in the company, valued at approximately $1,961,204.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the completion of the transaction, the chief financial officer now directly owns 171,434 shares in the company, valued at approximately $1,961,204.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.20, for a total value of $168,000.00. Following the completion of the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at $15,095,147.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,461 shares of company stock valued at $591,634 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

A number of hedge funds have recently bought and sold shares of the company. Divisar Capital Management LLC raised its holdings in nLIGHT by 9.4% in the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after buying an additional 133,023 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of nLIGHT by 112.0% during the first quarter. GSA Capital Partners LLP now owns 65,952 shares of the company’s stock valued at $857,000 after acquiring an additional 34,844 shares in the last quarter. Vanguard Group Inc. raised its holdings in nLIGHT by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company’s stock worth $65,855,000 after acquiring an additional 23,697 shares during the last quarter. ProShare Advisors LLC lifted its position in nLIGHT by 15.0% in the 1st quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after acquiring an additional 1,503 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in nLIGHT by 79.1% during the 1st quarter. BNP Paribas Financial Markets now owns 21,812 shares of the company’s stock valued at $284,000 after purchasing an additional 9,635 shares during 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.