Coldstream Capital Management Inc. Has $267,000 Stake in nLight $LASR

Coldstream Capital Management Inc. boosted its holdings in nLight (NASDAQ:LASR) by 48,328.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,560 shares of the company’s stock after purchasing an additional 13,532 shares during the period. Coldstream Capital Management Inc.’s holdings in nLight were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LASR. Vanguard Group Inc. boosted its stake in shares of nLight by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,667,332 shares of the company’s stock worth $28,495,000 after buying an additional 74,163 shares during the last quarter. Invesco Ltd. increased its position in shares of nLight by 14.6% in the first quarter. Invesco Ltd. now owns 59,298 shares of the company’s stock valued at $461,000 after acquiring an additional 7,570 shares during the last quarter. King Luther Capital Management Corp bought a new stake in nLight during the first quarter worth about $388,000. Nuveen LLC acquired a new position in nLight during the first quarter valued at approximately $888,000. Finally, Russell Investments Group Ltd. boosted its position in nLight by 322.3% during the first quarter. Russell Investments Group Ltd. now owns 15,571 shares of the company’s stock valued at $121,000 after purchasing an additional 11,884 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nLight

In other news, CEO Scott H. Keeney sold 62,507 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $30.99, for a total transaction of $1,937,091.93. Following the transaction, the chief executive officer owned 2,319,038 shares in the company, valued at approximately $71,866,987.62. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph John Corso sold 4,112 shares of nLight stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $29.14, for a total value of $119,823.68. Following the sale, the chief financial officer directly owned 269,006 shares of the company’s stock, valued at approximately $7,838,834.84. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,502 shares of company stock worth $3,382,804 over the last three months. Company insiders own 4.70% of the company’s stock.

nLight Stock Up 0.8%

Shares of LASR opened at $35.00 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of -39.77 and a beta of 2.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.36 and a current ratio of 5.63. nLight has a 52 week low of $6.20 and a 52 week high of $38.62. The firm’s 50-day simple moving average is $31.35 and its 200 day simple moving average is $24.87.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of nLight in a research note on Friday, August 8th. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Cantor Fitzgerald upped their price target on shares of nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Benchmark lifted their price objective on shares of nLight from $15.00 to $25.00 and gave the company a “speculative buy” rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of nLight from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.67.

nLight 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.