nLIGHT (NASDAQ:LASR) PT Lowered to $15.00

nLIGHT (NASDAQ:LASR) had its price objective lowered by equities researchers at Needham & Company LLC from $16.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 23.56% from the stock’s previous close.

nLIGHT Stock Performance

LASR stock opened at $12.14 on Friday. The firm has a fifty day moving average price of $12.24 and a 200 day moving average price of $12.29. nLIGHT has a fifty-two week low of $8.13 and a fifty-two week high of $15.91. The firm has a market cap of $577.41 million, a PE 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 for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $51.89 million during the quarter, compared to analyst estimates of $48.08 million. On average, equities analysts predict 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 firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $12.26, for a total value of $172,927.30. Following the completion of the sale, the chief financial officer now directly owns 146,601 shares in the company, valued at $1,797,328.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of nLIGHT

A number of institutional investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC lifted its position in shares of nLIGHT by 0.7% during the first quarter. Rice Hall James & Associates LLC now owns 231,391 shares of the company’s stock worth $3,008,000 after purchasing an additional 1,528 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of nLIGHT by 5.4% during the third quarter. Victory Capital Management Inc. now owns 56,000 shares of the company’s stock worth $582,000 after purchasing an additional 2,846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of nLIGHT by 91.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company’s stock worth $91,000 after purchasing an additional 4,174 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of nLIGHT by 25.9% during the fourth quarter. SG Americas Securities LLC now owns 24,799 shares of the company’s stock worth $335,000 after purchasing an additional 5,096 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of nLIGHT by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 357,720 shares of the company’s stock worth $4,829,000 after purchasing an additional 7,660 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

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.