Intech Investment Management LLC Makes New Investment in nLIGHT, Inc. (NASDAQ:LASR)

Intech Investment Management LLC bought a new position in nLIGHT, Inc. (NASDAQ:LASR) in the third quarter, Holdings Channel reports. The firm bought 11,493 shares of the company’s stock, valued at approximately $123,000.

A number of other large investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in nLIGHT by 63.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,661 shares of the company’s stock worth $1,119,000 after buying an additional 40,564 shares during the last quarter. Quest Partners LLC grew its position in shares of nLIGHT by 227.4% in the third quarter. Quest Partners LLC now owns 71,979 shares of the company’s stock valued at $769,000 after purchasing an additional 49,995 shares in the last quarter. Royce & Associates LP grew its position in shares of nLIGHT by 9.1% in the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock valued at $29,221,000 after purchasing an additional 227,580 shares in the last quarter. MQS Management LLC grew its position in shares of nLIGHT by 96.7% in the third quarter. MQS Management LLC now owns 35,489 shares of the company’s stock valued at $379,000 after purchasing an additional 17,451 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of nLIGHT by 6.6% in the third quarter. Victory Capital Management Inc. now owns 97,500 shares of the company’s stock valued at $1,042,000 after purchasing an additional 6,000 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Scott H. Keeney sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares in the company, valued at $18,505,033.13. The trade was a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the transaction, the chief financial officer now owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,006 shares of company stock worth $739,716 over the last ninety days. 6.10% of the stock is owned by corporate insiders.

nLIGHT Stock Performance

Shares of NASDAQ LASR opened at $11.01 on Friday. The stock has a market cap of $533.21 million, a PE ratio of -10.69 and a beta of 2.20. nLIGHT, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $15.00. The stock has a fifty day moving average of $11.29 and a 200-day moving average of $11.49.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LASR. Cantor Fitzgerald began coverage on nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target for the company. Needham & Company LLC lifted their price target on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

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.