LENSAR, Inc. (NASDAQ:LNSR) Sees Significant Decrease in Short Interest

LENSAR, Inc. (NASDAQ:LNSR) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 108,200 shares, a drop of 21.9% from the March 15th total of 138,600 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 162,800 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of LENSAR by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 100,431 shares of the company’s stock worth $460,000 after buying an additional 3,423 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of LENSAR by 28.2% in the fourth quarter. Atria Investments Inc now owns 26,055 shares of the company’s stock worth $233,000 after acquiring an additional 5,729 shares during the last quarter. Brandes Investment Partners LP boosted its stake in shares of LENSAR by 10.4% in the 4th quarter. Brandes Investment Partners LP now owns 489,318 shares of the company’s stock valued at $4,375,000 after purchasing an additional 45,920 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of LENSAR by 18.3% during the 4th quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company’s stock valued at $357,000 after purchasing an additional 6,184 shares during the last quarter. Finally, Evernest Financial Advisors LLC acquired a new position in LENSAR during the 4th quarter worth approximately $174,000. Institutional investors and hedge funds own 40.15% of the company’s stock.

LENSAR Stock Performance

Shares of NASDAQ LNSR traded down $0.12 during trading hours on Monday, reaching $13.79. 117,660 shares of the stock were exchanged, compared to its average volume of 69,371. The firm has a market capitalization of $162.57 million, a price-to-earnings ratio of -9.45 and a beta of 0.56. The stock’s fifty day simple moving average is $13.22 and its 200 day simple moving average is $9.60. LENSAR has a 52 week low of $2.95 and a 52 week high of $17.31.

LENSAR (NASDAQ:LNSR) last posted its earnings results on Thursday, February 27th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.40). LENSAR had a negative return on equity of 49.02% and a negative net margin of 34.03%. The firm had revenue of $16.73 million for the quarter, compared to analyst estimates of $14.95 million.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Lake Street Capital restated a “hold” rating and issued a $15.00 price target (down previously from $16.00) on shares of LENSAR in a research note on Monday, March 24th. BTIG Research downgraded shares of LENSAR from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th.

LENSAR Company Profile

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision.