Fisher Asset Management LLC bought a new stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 125,577 shares of the company's stock, valued at approximately $1,342,000. Fisher Asset Management LLC owned 0.26% of nLIGHT as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in LASR. Algert Global LLC bought a new stake in nLIGHT in the third quarter valued at $622,000. Charles Schwab Investment Management Inc. boosted its stake in shares of nLIGHT by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 385,784 shares of the company's stock valued at $4,124,000 after purchasing an additional 8,139 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of nLIGHT during the third quarter valued at about $123,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of nLIGHT by 63.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,661 shares of the company's stock valued at $1,119,000 after buying an additional 40,564 shares during the period. Finally, Quest Partners LLC raised its stake in nLIGHT by 227.4% in the third quarter. Quest Partners LLC now owns 71,979 shares of the company's stock worth $769,000 after buying an additional 49,995 shares in the last quarter. Institutional investors own 83.88% of the company's stock.
nLIGHT Stock Up 1.2 %
Shares of NASDAQ LASR traded up $0.13 on Friday, reaching $10.86. 88,739 shares of the company's stock traded hands, compared to its average volume of 246,164. The business's 50 day simple moving average is $11.25 and its two-hundred day simple moving average is $11.57. The company has a market cap of $525.95 million, a price-to-earnings ratio of -10.54 and a beta of 2.33. nLIGHT, Inc. has a 12 month low of $9.80 and a 12 month high of $15.00.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on LASR shares. Cantor Fitzgerald initiated coverage on nLIGHT in a report on Thursday, October 3rd. They set an "overweight" rating and a $15.50 target price on the stock. Benchmark reaffirmed a "speculative buy" rating and issued a $17.00 price target on shares of nLIGHT in a research note on Friday, August 2nd. Finally, Needham & Company LLC raised their price objective on nLIGHT from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, November 8th.
Check Out Our Latest Report on LASR
Insider Activity
In related news, CFO Joseph John Corso sold 4,461 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 171,434 shares of the company's stock, valued at $1,961,204.96. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $11.20, for a total value of $168,000.00. Following the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $15,095,147.20. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,461 shares of company stock worth $746,884 over the last three months. 6.10% of the stock is currently owned by corporate insiders.
nLIGHT Company Profile
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Free Report)
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.
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