Victory Capital Management Inc. Grows Stock Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Victory Capital Management Inc. raised its position in shares of nLIGHT, Inc. (NASDAQ:LASR) by 6.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 97,500 shares of the company’s stock after buying an additional 6,000 shares during the period. Victory Capital Management Inc.’s holdings in nLIGHT were worth $1,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of LASR. nVerses Capital LLC boosted its position in shares of nLIGHT by 500.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the company’s stock worth $45,000 after buying an additional 3,500 shares during the period. International Assets Investment Management LLC raised its stake 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 acquiring an additional 9,690 shares in the last quarter. Creative Planning acquired a new stake in shares of nLIGHT in the third quarter valued at $136,000. Price T Rowe Associates Inc. MD raised its stake in shares of nLIGHT by 16.7% in the first 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of nLIGHT in the third quarter valued at $179,000. 83.88% of the stock is currently owned by hedge funds and other institutional investors.

nLIGHT Price Performance

nLIGHT stock opened at $10.73 on Thursday. nLIGHT, Inc. has a 1-year low of $9.80 and a 1-year high of $15.00. The stock has a market cap of $519.64 million, a PE ratio of -10.51 and a beta of 2.33. The stock’s fifty day moving average is $11.25 and its two-hundred day moving average is $11.60.

Insider Buying and Selling at nLIGHT

In other news, CFO Joseph John Corso sold 4,461 shares of nLIGHT stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $1,961,204.96. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott H. Keeney sold 15,000 shares of nLIGHT stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total value of $166,650.00. Following the sale, the chief executive officer now owns 1,347,781 shares in the company, valued at $14,973,846.91. This trade represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,461 shares of company stock worth $746,884 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on LASR shares. Benchmark reiterated a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd. Cantor Fitzgerald started coverage on nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective on the stock. Finally, Needham & Company LLC increased their price objective on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

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.