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

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

nLIGHT Trading Up 4.0 %

NASDAQ:LASR traded up $0.48 on Friday, hitting $12.62. The stock had a trading volume of 148,769 shares, compared to its average volume of 178,281. nLIGHT has a 52-week low of $8.13 and a 52-week high of $15.91. The business’s 50-day simple moving average is $12.24 and its two-hundred day simple moving average is $12.31.

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

Insider Activity at nLIGHT

In other news, CFO Joseph John Corso sold 14,105 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 146,601 shares in the company, valued at $1,797,328.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.60% of the stock is owned by company insiders.

Institutional Trading of nLIGHT

A number of hedge funds and other institutional investors have recently bought and sold shares of LASR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of nLIGHT by 91.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company’s stock valued at $91,000 after purchasing an additional 4,174 shares in the last quarter. M&T Bank Corp acquired a new stake in nLIGHT during the third quarter worth about $116,000. Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of nLIGHT during the fourth quarter worth about $150,000. Cable Hill Partners LLC acquired a new stake in shares of nLIGHT in the third quarter valued at about $123,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of nLIGHT during the third quarter valued at approximately $131,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.

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.