nLIGHT (NASDAQ:LASR) Hits New 12-Month Low – Time to Sell?

nLIGHT, Inc. (NASDAQ:LASR)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.64 and last traded at $10.36, with a volume of 217697 shares trading hands. The stock had previously closed at $9.88.

Analysts Set New Price Targets

LASR has been the topic of several research reports. Needham & Company LLC boosted their target price on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald started coverage on nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective on the stock.

nLIGHT Price Performance

The company has a market cap of $502.21 million, a PE ratio of -10.07 and a beta of 2.20. The company has a fifty day moving average price of $11.30 and a 200 day moving average price of $11.36.

Insider Activity

In other nLIGHT news, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total transaction of $166,650.00. Following the transaction, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $14,973,846.91. This represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the transaction, the chief financial officer now owns 155,129 shares in the company, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,006 shares of company stock worth $907,566. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On nLIGHT

Institutional investors and hedge funds have recently made changes to their positions in the business. Harvey Partners LLC lifted its position in shares of nLIGHT by 56.5% during the third quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock worth $18,547,000 after purchasing an additional 626,500 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in nLIGHT by 18.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after buying an additional 309,634 shares during the period. Royce & Associates LP grew its stake in nLIGHT by 9.1% in the 3rd quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after acquiring an additional 227,580 shares in the last quarter. Needham Investment Management LLC increased its position in shares of nLIGHT by 7.1% during the third quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock worth $24,990,000 after acquiring an additional 155,000 shares during the period. Finally, Divisar Capital Management LLC increased its position in shares of nLIGHT by 9.4% during the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after acquiring an additional 133,023 shares during the period. 83.88% of the stock is 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.