Laser Photonics Co. (NASDAQ:LASE – Get Free Report)’s stock price dropped 1.4% on Monday . The company traded as low as $1.43 and last traded at $1.44. Approximately 1,050,508 shares changed hands during trading, a decline of 85% from the average daily volume of 6,793,007 shares. The stock had previously closed at $1.46.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Laser Photonics in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Research Report on Laser Photonics
Laser Photonics Stock Down 1.4%
Laser Photonics (NASDAQ:LASE – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $1.81 million during the quarter.
Institutional Investors Weigh In On Laser Photonics
Several large investors have recently bought and sold shares of LASE. BlackRock Inc. purchased a new stake in Laser Photonics during the second quarter valued at $334,000. XTX Topco Ltd bought a new stake in shares of Laser Photonics in the 4th quarter worth about $134,000. Millennium Management LLC bought a new stake in shares of Laser Photonics in the 4th quarter worth about $41,000. L1 Global Manager Pty Ltd purchased a new position in Laser Photonics in the fourth quarter worth about $339,000. Finally, Geode Capital Management LLC raised its position in Laser Photonics by 94.8% during the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after purchasing an additional 70,065 shares during the period. Institutional investors own 1.90% of the company’s stock.
About Laser Photonics
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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