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

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in nLIGHT, Inc. (NASDAQ:LASR) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 11,140 shares of the company’s stock, valued at approximately $150,000.

Several other large investors have also modified their holdings of LASR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of nLIGHT by 91.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,732 shares of the company’s stock valued at $91,000 after acquiring an additional 4,174 shares during the period. M&T Bank Corp purchased a new stake in shares of nLIGHT in the third quarter valued at about $116,000. Cable Hill Partners LLC acquired a new stake in shares of nLIGHT during the third quarter worth about $123,000. EP Wealth Advisors LLC acquired a new position in nLIGHT in the 3rd quarter valued at about $131,000. Finally, Versor Investments LP purchased a new stake in nLIGHT during the 3rd quarter valued at approximately $132,000. 83.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LASR has been the topic of several analyst reports. Needham & Company LLC lowered their target price 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 reiterated a “speculative buy” rating and issued a $17.00 price objective on shares of nLIGHT in a research report on Friday, May 3rd.

Insider Transactions at nLIGHT

In related news, CFO Joseph John Corso sold 14,105 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.26, for a total value of $172,927.30. Following the completion of the sale, the chief financial officer now owns 146,601 shares in the company, valued at $1,797,328.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

nLIGHT Trading Up 4.0 %

Shares of LASR opened at $13.36 on Friday. The stock’s 50 day moving average is $12.23 and its two-hundred day moving average is $12.37. nLIGHT, Inc. has a twelve month low of $8.13 and a twelve month high of $15.91. The firm has a market capitalization of $635.47 million, a PE ratio of -13.10 and a beta of 2.42.

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

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.