11,140 Shares in nLIGHT, Inc. (NASDAQ:LASR) Bought by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of nLIGHT, Inc. (NASDAQ:LASR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,140 shares of the company’s stock, valued at approximately $150,000.

A number of other institutional investors also recently bought and sold shares of LASR. Victory Capital Management Inc. lifted its holdings in nLIGHT by 5.4% during the third quarter. Victory Capital Management Inc. now owns 56,000 shares of the company’s stock valued at $582,000 after purchasing an additional 2,846 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of nLIGHT by 91.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company’s stock worth $91,000 after purchasing an additional 4,174 shares in the last quarter. SG Americas Securities LLC raised its stake in nLIGHT by 25.9% during the 4th quarter. SG Americas Securities LLC now owns 24,799 shares of the company’s stock valued at $335,000 after purchasing an additional 5,096 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of nLIGHT by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 357,720 shares of the company’s stock worth $4,829,000 after buying an additional 7,660 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of nLIGHT by 18.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,088 shares of the company’s stock valued at $708,000 after purchasing an additional 10,485 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

Insider Transactions at nLIGHT

In related news, CFO Joseph John Corso sold 14,105 shares of nLIGHT stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $12.26, for a total transaction of $172,927.30. Following the transaction, the chief financial officer now directly owns 146,601 shares of the company’s stock, valued at $1,797,328.26. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

nLIGHT Price Performance

nLIGHT stock opened at $13.36 on Friday. The stock has a market cap of $635.47 million, a price-to-earnings ratio of -13.10 and a beta of 2.42. The firm has a 50-day moving average of $12.23 and a two-hundred day moving average of $12.37. nLIGHT, Inc. has a 1 year low of $8.13 and a 1 year high of $15.91.

nLIGHT (NASDAQ:LASR) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.02. nLIGHT had a negative return on equity of 17.60% and a negative net margin of 23.81%. The firm had revenue of $51.89 million during the quarter, compared to the consensus estimate of $48.08 million. Research analysts expect that nLIGHT, Inc. will post -0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LASR shares. Needham & Company LLC reduced their price objective on nLIGHT from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Benchmark reissued a “speculative buy” rating and set a $17.00 target price on shares of nLIGHT in a research report on Friday, May 3rd.

About nLIGHT

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.