Harvey Partners LLC Has $18.55 Million Stock Position in nLIGHT, Inc. (NASDAQ:LASR)

Harvey Partners LLC grew its stake in nLIGHT, Inc. (NASDAQ:LASR) by 56.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,735,000 shares of the company’s stock after purchasing an additional 626,500 shares during the quarter. nLIGHT makes up 2.1% of Harvey Partners LLC’s holdings, making the stock its 21st largest holding. Harvey Partners LLC’s holdings in nLIGHT were worth $18,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

nLIGHT Trading Up 1.8 %

NASDAQ LASR opened at $11.06 on Tuesday. The company has a fifty day simple moving average of $11.26 and a 200 day simple moving average of $11.54. The company has a market cap of $535.64 million, a P/E ratio of -10.74 and a beta of 2.20. nLIGHT, Inc. has a 12-month low of $9.80 and a 12-month high of $15.00.

Analysts Set New Price Targets

A number of analysts recently weighed in on LASR shares. Needham & Company LLC lifted their price target 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 initiated coverage on nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 target price for the company.

Insider Buying and Selling at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $11.20, for a total value of $168,000.00. Following the completion of the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $15,095,147.20. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 60,000 shares of company stock valued at $695,850 in the last quarter. Company insiders own 6.10% of the company’s stock.

nLIGHT 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.