Harvey Partners LLC Has $41.47 Million Stock Holdings in nLight $LASR

by · The Cerbat Gem

Harvey Partners LLC boosted its position in nLight (NASDAQ:LASR – Free Report) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,107,348 shares of the company’s stock after purchasing an additional 34,348 shares during the period. nLight makes up about 4.1% of Harvey Partners LLC’s portfolio, making the stock its 9th largest holding. Harvey Partners LLC’s holdings in nLight were worth $41,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LASR. GAMMA Investing LLC lifted its stake in shares of nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 924 shares during the period. Nisa Investment Advisors LLC boosted its holdings in nLight by 162.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock valued at $54,000 after acquiring an additional 1,700 shares during the last quarter. Emerald Advisers LLC acquired a new stake in nLight during the 2nd quarter worth $96,000. Ameritas Investment Partners Inc. grew its holdings in nLight by 12.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,911 shares of the company’s stock valued at $97,000 after purchasing an additional 561 shares during the period. Finally, State of Wyoming grew its holdings in shares of nLight by 110.6% in the 1st quarter. State of Wyoming now owns 14,762 shares of the company’s stock valued at $115,000 after buying an additional 7,754 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nLight

In other nLight news, CEO Scott H. Keeney sold 62,507 shares of nLight stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $30.99, for a total value of $1,937,091.93. Following the sale, the chief executive officer owned 2,319,038 shares of the company’s stock, valued at $71,866,987.62. The trade was a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Raymond A. Link sold 12,560 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $35.33, for a total value of $443,744.80. Following the completion of the sale, the director owned 102,576 shares of the company’s stock, valued at approximately $3,624,010.08. This represents a 10.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,946 shares of company stock valued at $3,448,291 over the last quarter. Company insiders own 4.70% of the company’s stock.

nLight Trading Down 5.5%

Shares of LASR stock opened at $36.12 on Friday. The stock’s fifty day moving average price is $32.56 and its two-hundred day moving average price is $26.36. nLight has a fifty-two week low of $6.20 and a fifty-two week high of $38.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. The company has a market cap of $1.83 billion, a PE ratio of -41.05 and a beta of 2.34.

Wall Street Analyst Weigh In

A number of brokerages have commented on LASR. Zacks Research lowered shares of nLight from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Needham & Company LLC raised their price target on nLight from $32.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Cantor Fitzgerald upped their target price on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Stifel Nicolaus increased their target price on nLight from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, nLight currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

View Our Latest Analysis on LASR

nLight Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding LASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nLight (NASDAQ:LASR – Free Report).