nLIGHT (NASDAQ:LASR) Hits New 52-Week Low – Should You Sell?

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

Analyst Upgrades and Downgrades

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

nLIGHT Stock Performance

The firm has a market cap of $502.21 million, a price-to-earnings ratio of -10.07 and a beta of 2.20. The company’s fifty day moving average is $11.30 and its two-hundred day moving average is $11.36.

Insider Activity

In other nLIGHT news, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the transaction, the chief financial officer now owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $11.19, for a total value of $167,850.00. Following the transaction, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at approximately $14,996,233.74. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,006 shares of company stock worth $907,566. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of nLIGHT

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

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.