Laser Photonics Co. (NASDAQ:LASE – Get Free Report) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 3,086,804 shares, a growth of 88.0% from the May 31st total of 1,641,486 shares. Approximately 8.1% of the shares of the stock are sold short. Based on an average daily volume of 67,443,061 shares, the short-interest ratio is presently 0.0 days.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (d)” rating on shares of Laser Photonics in a report on Monday, March 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Laser Photonics presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on Laser Photonics
Laser Photonics Trading Down 8.5%
Laser Photonics (NASDAQ:LASE – Get Free Report) last posted its earnings results on Thursday, June 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $0.92 million for the quarter.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its position in shares of Laser Photonics by 500.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock valued at $26,000 after purchasing an additional 5,000 shares during the period. Millennium Management LLC acquired a new stake in Laser Photonics during the 4th quarter worth approximately $41,000. XTX Topco Ltd bought a new position in Laser Photonics in the fourth quarter valued at approximately $134,000. L1 Global Manager Pty Ltd acquired a new position in shares of Laser Photonics in the fourth quarter valued at approximately $339,000. Finally, Geode Capital Management LLC raised its holdings in shares of Laser Photonics by 94.8% during the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after acquiring an additional 70,065 shares during the period. Institutional investors own 1.90% of the company’s stock.
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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