Coldstream Capital Management Inc. Sells 9,017 Shares of nLight $LASR

Coldstream Capital Management Inc. decreased its holdings in nLight (NASDAQ:LASR) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,821 shares of the company’s stock after selling 9,017 shares during the quarter. Coldstream Capital Management Inc.’s holdings in nLight were worth $631,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $36,000 after acquiring an additional 1,727 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in nLight by 155.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock valued at $40,000 after acquiring an additional 647 shares during the last quarter. Financial Consulate Inc. bought a new stake in nLight during the fourth quarter valued at $41,000. Wexford Capital LP bought a new stake in nLight during the third quarter valued at $41,000. Finally, SBI Securities Co. Ltd. boosted its position in nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 83.88% of the company’s stock.

nLight Trading Down 2.8%

Shares of NASDAQ LASR opened at $79.15 on Friday. The firm’s 50-day moving average price is $69.83 and its 200-day moving average price is $53.57. nLight has a 1-year low of $14.91 and a 1-year high of $86.95. The firm has a market capitalization of $4.46 billion, a P/E ratio of -263.82 and a beta of 2.34.

nLight (NASDAQ:LASR) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The firm had revenue of $80.18 million for the quarter, compared to analyst estimates of $72.14 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was up 55.2% compared to the same quarter last year. Equities research analysts forecast that nLight will post -0.17 EPS for the current year.

Insider Activity

In related news, CFO Joseph John Corso sold 35,476 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total value of $2,497,510.40. Following the sale, the chief financial officer owned 177,572 shares in the company, valued at $12,501,068.80. This represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 46,735 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total transaction of $3,200,412.80. Following the completion of the sale, the chief executive officer owned 2,375,519 shares in the company, valued at $162,675,541.12. This represents a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 405,487 shares of company stock worth $27,566,119 in the last quarter. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LASR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nLight in a research report on Tuesday, April 21st. Robert W. Baird began coverage on shares of nLight in a research report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price target on the stock. Cantor Fitzgerald upped their price target on shares of nLight from $40.00 to $62.50 and gave the company an “overweight” rating in a research report on Friday, February 27th. Wall Street Zen raised shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Stifel Nicolaus upped their price target on shares of nLight from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.