Laser Photonics Co. (NASDAQ:LASE) Sees Large Increase in Short Interest

Laser Photonics Co. (NASDAQ:LASE) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,168,181 shares, a growth of 21.6% from the December 15th total of 960,980 shares. Based on an average daily trading volume, of 263,804 shares, the days-to-cover ratio is currently 4.4 days. Currently, 5.2% of the company’s shares are short sold. Currently, 5.2% of the company’s shares are short sold. Based on an average daily trading volume, of 263,804 shares, the days-to-cover ratio is currently 4.4 days.

Institutional Investors Weigh In On Laser Photonics

Institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its position in Laser Photonics by 500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after acquiring an additional 5,000 shares during the last quarter. Anson Funds Management LP acquired a new stake in shares of Laser Photonics in the third quarter valued at approximately $1,776,000. Vanguard Group Inc. lifted its position in shares of Laser Photonics by 7.7% in the third quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock worth $1,437,000 after purchasing an additional 23,792 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Laser Photonics during the third quarter worth $118,000. Finally, Stephens Inc. AR acquired a new position in Laser Photonics during the third quarter worth $81,000. Institutional investors own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LASE. Weiss Ratings restated a “sell (d+)” rating on shares of Laser Photonics in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Laser Photonics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Laser Photonics presently has a consensus rating of “Sell”.

Laser Photonics Stock Performance

LASE stock traded up $0.03 during mid-day trading on Monday, hitting $2.15. 320,967 shares of the company were exchanged, compared to its average volume of 609,851. Laser Photonics has a 1-year low of $1.71 and a 1-year high of $6.77. The firm’s 50 day simple moving average is $2.70 and its 200 day simple moving average is $3.20. The firm has a market cap of $48.03 million, a P/E ratio of -1.71 and a beta of 3.37.

Laser Photonics (NASDAQ:LASE) last released its quarterly earnings results on Monday, December 22nd. The company reported ($1.09) earnings per share for the quarter. The firm had revenue of $0.92 million for the quarter.

Laser Photonics Company Profile

Laser Photonics Corporation (NASDAQ: LASE) is a technology company that designs, manufactures and markets high‐power fiber‐optic laser solutions and high‐speed optical communication modules. Headquartered in Orlando, Florida, it serves a variety of industrial and telecommunications markets worldwide. The company’s operations are organized into two principal segments: Laser Products and Optical Communications.

In its Laser Products segment, Laser Photonics develops and produces a range of fiber‐optic lasers tailored for material processing applications.