nLIGHT (NASDAQ:LASR) Reaches New 52-Week Low – Here’s What Happened

22 Dec 2024, 10:40 by Kim Johansen · The Markets Daily

nLIGHT, Inc. (NASDAQ:LASR – Get Free Report)’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 changing hands. The stock had previously closed at $9.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LASR shares. Cantor Fitzgerald started coverage on shares of nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective for the company. Needham & Company LLC lifted their price objective on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Get Our Latest Research Report on LASR

nLIGHT Stock Up 2.1 %

The stock has a fifty day simple moving average of $11.27 and a 200-day simple moving average of $11.34. The company has a market capitalization of $488.65 million, a P/E ratio of -9.80 and a beta of 2.20.

Insider Activity at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.11, for a total transaction of $166,650.00. Following the completion of the sale, the chief executive officer now owns 1,347,781 shares of the company’s stock, valued at approximately $14,973,846.91. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction that occurred 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 directly owns 155,129 shares in the company, valued at $1,694,008.68. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,006 shares of company stock valued at $907,566 in the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional Trading of nLIGHT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Associates Ltd. grew its holdings in nLIGHT by 18.1% during the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after acquiring an additional 309,634 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of nLIGHT by 19.2% in the second quarter. Natixis Advisors LLC now owns 93,043 shares of the company’s stock valued at $1,017,000 after purchasing an additional 14,983 shares in the last quarter. Victory Capital Management Inc. raised its position in nLIGHT by 27.2% in the 2nd quarter. Victory Capital Management Inc. now owns 91,500 shares of the company’s stock worth $1,000,000 after purchasing an additional 19,556 shares during the last quarter. Quest Partners LLC increased its stake in shares of nLIGHT by 15,830.4% in the 2nd quarter. Quest Partners LLC now owns 21,984 shares of the company’s stock valued at $240,000 after buying an additional 21,846 shares during the period. Finally, American Century Companies Inc. raised its position in shares of nLIGHT by 13.0% during the second quarter. American Century Companies Inc. now owns 69,886 shares of the company’s stock worth $764,000 after acquiring an additional 8,064 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

nLIGHT Company Profile

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