LENSAR (NASDAQ:LNSR) Shares Down 1.8% – Should You Sell?

LENSAR, Inc. (NASDAQ:LNSR) shares fell 1.8% during mid-day trading on Monday. The company traded as low as $5.95 and last traded at $5.96. 14,658 shares traded hands during trading, a decline of 68% from the average daily volume of 46,436 shares. The stock had previously closed at $6.07.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LNSR shares. BTIG Research boosted their price target on LENSAR from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wall Street Zen lowered shares of LENSAR from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Loop Capital set a $11.00 target price on shares of LENSAR in a research note on Monday, September 28th. Weiss Ratings raised shares of LENSAR from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 22nd. Finally, Lake Street Capital reissued a “buy” rating and issued a $13.00 target price on shares of LENSAR in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.33.

LENSAR Trading Down 0.3%

The firm’s fifty day moving average price is $7.25 and its 200-day moving average price is $7.60. The company has a market cap of $72.76 million, a P/E ratio of -17.94 and a beta of 0.95.

LENSAR (NASDAQ:LNSR) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. The company had revenue of $16.50 million during the quarter, compared to the consensus estimate of $14.65 million. LENSAR had a net margin of 57.57% and a negative return on equity of 529.08%.

Institutional Trading of LENSAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of LENSAR in the 2nd quarter worth $1,057,000. DCF Advisers LLC acquired a new stake in shares of LENSAR during the second quarter worth $675,000. Man Group plc bought a new stake in LENSAR in the second quarter valued at about $445,000. Evernest Financial Advisors LLC acquired a new position in LENSAR in the first quarter valued at about $393,000. Finally, Susquehanna International Group LLP bought a new position in LENSAR during the second quarter worth about $253,000. 40.15% of the stock is currently owned by institutional investors and hedge funds.

LENSAR Company Profile

LENSAR, Inc is a medical technology company focused on ophthalmic laser systems used in cataract surgery and other procedures involving the eye. The company develops and commercializes femtosecond laser technology designed to assist surgeons with key steps of cataract surgery, including corneal incisions, capsulotomy and lens fragmentation.

Its product portfolio includes the LENSAR Laser System, which incorporates image-guidance and planning technologies intended to support precise, customized procedures.