GSA Capital Partners LLP Acquires 19,944 Shares of nLIGHT, Inc. (NASDAQ:LASR)

GSA Capital Partners LLP lifted its stake in nLIGHT, Inc. (NASDAQ:LASR) by 30.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,113 shares of the company’s stock after purchasing an additional 19,944 shares during the period. GSA Capital Partners LLP’s holdings in nLIGHT were worth $921,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its stake in nLIGHT by 18.1% in the 2nd 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 in the last quarter. Divisar Capital Management LLC increased its holdings in nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after purchasing an additional 133,023 shares during the period. Dimensional Fund Advisors LP raised its position in nLIGHT by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company’s stock valued at $12,547,000 after purchasing an additional 47,267 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of nLIGHT by 336.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 44,629 shares of the company’s stock worth $477,000 after buying an additional 34,393 shares during the period. Finally, AQR Capital Management LLC bought a new position in shares of nLIGHT during the 2nd quarter worth $271,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Price Performance

Shares of NASDAQ LASR opened at $10.26 on Friday. nLIGHT, Inc. has a 1-year low of $9.80 and a 1-year high of $15.00. The business has a fifty day moving average price of $11.20 and a 200 day moving average price of $11.69. The stock has a market capitalization of $496.89 million, a P/E ratio of -9.96 and a beta of 2.33.

Wall Street Analysts Forecast Growth

LASR has been the subject of several recent research reports. Needham & Company LLC lifted their price objective on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 8th. Benchmark restated a “speculative buy” rating and issued a $17.00 price target on shares of nLIGHT in a report on Friday, August 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective on the stock.

Insiders Place Their Bets

In other nLIGHT 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 value of $51,033.84. Following the completion of the sale, the chief financial officer now directly owns 171,434 shares in the company, 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 nLIGHT stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total transaction of $166,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares in the company, valued at $14,973,846.91. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,461 shares of company stock worth $591,634. 6.10% of the stock is owned by corporate insiders.

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.