nLIGHT, Inc. (NASDAQ:LASR – Get Rating)’s share price gapped down prior to trading on Friday after Needham & Company LLC lowered their price target on the stock from $14.00 to $13.00. The stock had previously closed at $12.48, but opened at $10.28. Needham & Company LLC currently has a buy rating on the stock. nLIGHT shares last traded at $11.11, with a volume of 523,460 shares.
A number of other equities research analysts also recently weighed in on the company. Raymond James lowered their price objective on nLIGHT from $40.00 to $30.00 in a report on Sunday, November 6th. Stifel Nicolaus started coverage on nLIGHT in a report on Friday, November 4th. They issued a “buy” rating on the stock.
Institutional Trading of nLIGHT
A number of hedge funds have recently modified their holdings of the company. IFP Advisors Inc raised its holdings in nLIGHT by 1,588.0% in the 4th quarter. IFP Advisors Inc now owns 844 shares of the company’s stock valued at $34,000 after acquiring an additional 794 shares during the period. Tower Research Capital LLC TRC grew its stake in nLIGHT by 181.7% during the third quarter. Tower Research Capital LLC TRC now owns 7,952 shares of the company’s stock worth $76,000 after purchasing an additional 5,129 shares during the period. Barclays PLC grew its stake in nLIGHT by 533.2% during the fourth quarter. Barclays PLC now owns 11,930 shares of the company’s stock worth $121,000 after purchasing an additional 10,046 shares during the period. Arizona State Retirement System grew its stake in nLIGHT by 12.4% during the second quarter. Arizona State Retirement System now owns 12,015 shares of the company’s stock worth $123,000 after purchasing an additional 1,330 shares during the period. Finally, Quantbot Technologies LP grew its stake in nLIGHT by 54.9% during the third quarter. Quantbot Technologies LP now owns 13,074 shares of the company’s stock worth $123,000 after purchasing an additional 4,636 shares during the period. 86.85% of the stock is currently owned by institutional investors and hedge funds.
nLIGHT Price Performance
The firm has a fifty day simple moving average of $11.72 and a 200-day simple moving average of $11.24. The firm has a market cap of $503.39 million, a P/E ratio of -11.91 and a beta of 2.26.
About nLIGHT
nLIGHT, Inc develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. It operates through the following segments: Laser Products and Advanced Development. The Laser Products segment includes products such as fiber lasers, diodes, complete laser systems and components.