nLIGHT (NASDAQ:LASR – Free Report) had its target price decreased by Needham & Company LLC from $16.00 to $15.00 in a report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.
nLIGHT Stock Up 4.0 %
nLIGHT stock traded up $0.48 during trading on Friday, reaching $12.62. 148,769 shares of the company’s stock were exchanged, 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 company’s 50-day moving average is $12.24 and its two-hundred day moving average is $12.31.
nLIGHT (NASDAQ:LASR – Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $51.89 million during the quarter, compared to analysts’ expectations of $48.08 million. Equities research analysts forecast that nLIGHT will post -0.93 earnings per share for the current fiscal year.
Insider Activity
Hedge Funds Weigh In On nLIGHT
Several institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of nLIGHT by 91.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company’s stock valued at $91,000 after buying an additional 4,174 shares in the last quarter. M&T Bank Corp purchased a new position in shares of nLIGHT during the 3rd quarter worth $116,000. Cable Hill Partners LLC acquired a new position in nLIGHT during the 3rd quarter worth about $123,000. EP Wealth Advisors LLC purchased a new stake in nLIGHT during the 3rd quarter worth about $131,000. Finally, Versor Investments LP purchased a new position in shares of nLIGHT in the 3rd quarter valued at about $132,000. 83.88% of the stock is owned by hedge funds and other institutional investors.
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.
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