Harvey Partners LLC Grows Stock Position in nLIGHT, Inc. (NASDAQ:LASR)

Harvey Partners LLC raised its stake in shares of nLIGHT, Inc. (NASDAQ:LASR) by 56.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,735,000 shares of the company’s stock after purchasing an additional 626,500 shares during the period. nLIGHT accounts for 2.1% of Harvey Partners LLC’s holdings, making the stock its 21st biggest position. Harvey Partners LLC owned about 3.58% of nLIGHT worth $18,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LASR. nVerses Capital LLC boosted its holdings in nLIGHT by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock valued at $45,000 after purchasing an additional 3,500 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of nLIGHT in the 3rd quarter worth about $50,000. Quantbot Technologies LP grew its holdings in nLIGHT by 25.5% during the third quarter. Quantbot Technologies LP now owns 10,092 shares of the company’s stock worth $108,000 after acquiring an additional 2,052 shares during the period. International Assets Investment Management LLC grew its holdings in shares of nLIGHT by 969.0% during the third quarter. International Assets Investment Management LLC now owns 10,690 shares of the company’s stock valued at $114,000 after buying an additional 9,690 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in nLIGHT during the third quarter worth $123,000. Institutional investors and hedge funds own 83.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LASR shares. Needham & Company LLC raised their price target on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald initiated coverage on nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target on the stock.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $11.20, for a total transaction of $168,000.00. Following the completion of the transaction, the chief executive officer now owns 1,347,781 shares of the company’s stock, valued at $15,095,147.20. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 60,000 shares of company stock valued at $695,850 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

nLIGHT Trading Up 1.8 %

Shares of nLIGHT stock opened at $11.06 on Tuesday. The firm has a market capitalization of $535.64 million, a PE ratio of -10.74 and a beta of 2.20. The firm’s 50-day moving average price is $11.26 and its 200 day moving average price is $11.54. nLIGHT, Inc. has a twelve month low of $9.80 and a twelve month high of $15.00.

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.