nLIGHT, Inc. (NASDAQ:LASR) Shares Bought by Harvey Partners LLC

Harvey Partners LLC increased its stake in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 56.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,735,000 shares of the company's stock after purchasing an additional 626,500 shares during the period. nLIGHT accounts for approximately 2.1% of Harvey Partners LLC's investment portfolio, making the stock its 21st biggest position. Harvey Partners LLC owned approximately 3.58% of nLIGHT worth $18,547,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LASR. Vanguard Group Inc. raised its position in shares of nLIGHT by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,065,737 shares of the company's stock worth $65,855,000 after purchasing an additional 23,697 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in nLIGHT by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company's stock valued at $172,000 after acquiring an additional 1,886 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in nLIGHT by 18.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company's stock valued at $22,087,000 after acquiring an additional 309,634 shares during the last quarter. Natixis Advisors LLC raised its holdings in nLIGHT by 19.2% in the 2nd quarter. Natixis Advisors LLC now owns 93,043 shares of the company's stock valued at $1,017,000 after acquiring an additional 14,983 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in nLIGHT by 27.2% in the 2nd quarter. Victory Capital Management Inc. now owns 91,500 shares of the company's stock valued at $1,000,000 after acquiring an additional 19,556 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

nLIGHT Stock Performance

Shares of nLIGHT stock traded down $0.12 during mid-day trading on Tuesday, hitting $10.94. The stock had a trading volume of 486,126 shares, compared to its average volume of 247,129. The firm has a 50-day moving average of $11.26 and a two-hundred day moving average of $11.54. nLIGHT, Inc. has a 12-month low of $9.80 and a 12-month high of $15.00.

Analyst Upgrades and Downgrades

A number of research firms have commented on LASR. Needham & Company LLC increased their price objective 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 began coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price objective for the company.

Insider Buying and Selling

In related news, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were 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 approximately $15,095,147.20. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 60,000 shares of company stock valued at $695,850. 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.