Algert Global LLC Buys New Shares in nLIGHT, Inc. (NASDAQ:LASR)

Algert Global LLC purchased a new position in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 58,207 shares of the company's stock, valued at approximately $622,000. Algert Global LLC owned 0.12% of nLIGHT at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in LASR. nVerses Capital LLC boosted its stake in shares of 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. International Assets Investment Management LLC boosted its position in 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 buying an additional 9,690 shares in the last quarter. Intech Investment Management LLC acquired a new stake in nLIGHT in the third quarter valued at approximately $123,000. Creative Planning bought a new stake in shares of nLIGHT during the third quarter worth $136,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of nLIGHT by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company's stock worth $172,000 after buying an additional 1,886 shares in the last quarter. 83.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total transaction of $51,033.84. Following the sale, the chief financial officer now owns 171,434 shares of the company's stock, valued at approximately $1,961,204.96. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.35, for a total value of $155,250.00. Following the sale, the chief executive officer now owns 1,348,891 shares of the company's stock, valued at approximately $13,961,021.85. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,461 shares of company stock valued at $746,884 in the last three months. Insiders own 6.10% of the company's stock.

nLIGHT Stock Performance

Shares of NASDAQ:LASR traded up $0.13 during mid-day trading on Friday, reaching $10.86. 88,739 shares of the company's stock were exchanged, compared to its average volume of 449,814. The firm has a market capitalization of $525.95 million, a price-to-earnings ratio of -10.54 and a beta of 2.33. nLIGHT, Inc. has a twelve month low of $9.80 and a twelve month high of $15.00. The business's fifty day moving average price is $11.25 and its 200-day moving average price is $11.56.

Analyst Upgrades and Downgrades

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

nLIGHT Company 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.