Laser Photonics (NASDAQ:LASE – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $0.92 million for the quarter.
Laser Photonics Stock Down 12.9%
LASE opened at $2.10 on Friday. The firm has a 50 day moving average price of $1.24 and a 200-day moving average price of $1.60. Laser Photonics has a twelve month low of $0.38 and a twelve month high of $6.77. The stock has a market capitalization of $80.99 million, a price-to-earnings ratio of -1.19 and a beta of 2.59.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (d)” rating on shares of Laser Photonics in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.
Institutional Trading of Laser Photonics
Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake in shares of Laser Photonics by 500.0% in the third quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after purchasing an additional 5,000 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Laser Photonics in the fourth quarter worth $41,000. XTX Topco Ltd purchased a new stake in shares of Laser Photonics in the fourth quarter worth $134,000. Geode Capital Management LLC increased its stake in shares of Laser Photonics by 94.8% in the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after purchasing an additional 70,065 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Laser Photonics by 7,350.9% in the first quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock worth $457,000 after purchasing an additional 147,017 shares in the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.
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.
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