GSA Capital Partners LLP Grows Position in nLIGHT, Inc. (NASDAQ:LASR)

GSA Capital Partners LLP boosted its stake in shares of nLIGHT, Inc. (NASDAQ:LASR) by 30.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,113 shares of the company’s stock after acquiring an additional 19,944 shares during the period. GSA Capital Partners LLP owned 0.18% of nLIGHT worth $921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in shares of nLIGHT by 9.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock valued at $181,000 after purchasing an additional 1,220 shares in the last quarter. ProShare Advisors LLC boosted its stake in nLIGHT by 15.0% during the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after buying an additional 1,503 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in nLIGHT by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock valued at $204,000 after buying an additional 1,546 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in nLIGHT by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock valued at $172,000 after buying an additional 1,886 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in nLIGHT by 6.7% in the 2nd quarter. Squarepoint Ops LLC now owns 52,823 shares of the company’s stock worth $577,000 after acquiring an additional 3,332 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on LASR. Needham & Company LLC increased their target price on nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald initiated coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective for the company. Finally, Benchmark reissued a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a research note on Friday, August 2nd.

Insider Activity at nLIGHT

In other news, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction on Wednesday, October 9th. The shares were 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 of the company’s stock, valued at approximately $14,973,846.91. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,461 shares of company stock worth $591,634. Company insiders own 6.10% of the company’s stock.

nLIGHT Price Performance

NASDAQ:LASR opened at $10.26 on Friday. The firm has a market capitalization of $496.89 million, a price-to-earnings ratio of -9.96 and a beta of 2.33. The business has a 50 day simple moving average of $11.20 and a 200-day simple moving average of $11.69. nLIGHT, Inc. has a 1 year low of $9.80 and a 1 year high of $15.00.

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.