nLIGHT (NASDAQ:LASR) Given New $14.00 Price Target at Stifel Nicolaus

nLIGHT (NASDAQ:LASR) had its target price reduced by Stifel Nicolaus from $17.00 to $14.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald initiated coverage on nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective on the stock. Needham & Company LLC increased their price target on shares of nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

nLIGHT Trading Down 10.9 %

LASR opened at $9.88 on Wednesday. The company has a 50 day moving average of $10.85 and a 200 day moving average of $11.19. nLIGHT has a 12 month low of $9.15 and a 12 month high of $14.75. The company has a market cap of $478.49 million, a PE ratio of -9.59 and a beta of 2.19.

Insider Buying and Selling at nLIGHT

In other news, CFO Joseph John Corso sold 2,500 shares of nLIGHT stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the completion of the sale, the chief financial officer now directly owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.35, for a total value of $155,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,348,891 shares in the company, valued at approximately $13,961,021.85. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,019 shares of company stock valued at $692,565 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

A number of hedge funds and other institutional investors have recently modified their holdings of LASR. Moody National Bank Trust Division purchased a new stake in nLIGHT in the fourth quarter worth approximately $115,000. Barclays PLC raised its position in nLIGHT by 317.7% in the 3rd quarter. Barclays PLC now owns 70,599 shares of the company’s stock worth $755,000 after purchasing an additional 53,699 shares during the period. Geode Capital Management LLC lifted its stake in nLIGHT by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,103,920 shares of the company’s stock worth $11,804,000 after purchasing an additional 9,673 shares during the last quarter. Jane Street Group LLC grew its position in nLIGHT by 98.2% during the 3rd quarter. Jane Street Group LLC now owns 138,646 shares of the company’s stock worth $1,482,000 after acquiring an additional 68,682 shares during the last quarter. Finally, State Street Corp increased its stake in nLIGHT by 1.1% in the 3rd quarter. State Street Corp now owns 1,021,736 shares of the company’s stock worth $10,922,000 after purchasing an additional 11,132 shares during the period. 83.88% of the stock is currently owned by hedge funds and other 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.