Quest Partners LLC Purchases 49,995 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Quest Partners LLC increased its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 227.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,979 shares of the company's stock after acquiring an additional 49,995 shares during the quarter. Quest Partners LLC owned about 0.15% of nLIGHT worth $769,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LASR. Pinnacle Associates Ltd. increased its position in nLIGHT by 18.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company's stock worth $22,087,000 after acquiring an additional 309,634 shares during the period. Royce & Associates LP increased its position in nLIGHT by 9.1% during the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company's stock worth $29,221,000 after acquiring an additional 227,580 shares during the period. Divisar Capital Management LLC increased its position in nLIGHT by 9.4% during the second quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company's stock worth $16,897,000 after acquiring an additional 133,023 shares during the period. Dimensional Fund Advisors LP increased its holdings in nLIGHT by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company's stock valued at $12,547,000 after buying an additional 47,267 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in nLIGHT by 336.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 44,629 shares of the company's stock valued at $477,000 after buying an additional 34,393 shares during the period. 83.88% of the stock is owned by institutional investors.

nLIGHT Stock Performance

Shares of nLIGHT stock traded up $0.28 during midday trading on Friday, hitting $11.39. 299,557 shares of the company traded hands, compared to its average volume of 246,198. The stock has a market cap of $551.61 million, a price-to-earnings ratio of -11.06 and a beta of 2.33. The firm's fifty day moving average price is $11.22 and its 200-day moving average price is $11.66. nLIGHT, Inc. has a 12 month low of $9.80 and a 12 month high of $15.00.

Insider Activity at nLIGHT

In other nLIGHT news, CFO Joseph John Corso sold 4,461 shares of the business'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 sale, the chief financial officer now directly owns 171,434 shares of the company's stock, valued at $1,961,204.96. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott H. Keeney sold 15,000 shares of the business'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 sale, the chief executive officer now directly owns 1,347,781 shares in the company, valued at $15,095,147.20. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,461 shares of company stock valued at $746,884. 6.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LASR shares. Needham & Company LLC raised their target price on shares of nLIGHT from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, November 8th. Benchmark reissued a "speculative buy" rating and issued a $17.00 target price on shares of nLIGHT in a report on Friday, August 2nd. Finally, Cantor Fitzgerald started coverage on shares of nLIGHT in a report on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 target price 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.