Short Interest in Laser Photonics Co. (NASDAQ:LASE) Grows By 83.7%

Laser Photonics Co. (NASDAQ:LASE) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 1,292,396 shares, an increase of 83.7% from the January 15th total of 703,601 shares. Based on an average daily trading volume, of 707,763 shares, the short-interest ratio is currently 1.8 days. Currently, 5.8% of the company’s stock are short sold. Currently, 5.8% of the company’s stock are short sold. Based on an average daily trading volume, of 707,763 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Laser Photonics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Laser Photonics

A number of hedge funds and other institutional investors have recently bought and sold shares of LASE. CIBC Private Wealth Group LLC increased its position in Laser Photonics by 500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after buying an additional 5,000 shares during the last quarter. Stephens Inc. AR bought a new position in shares of Laser Photonics during the 3rd quarter worth approximately $81,000. Essex Investment Management Co. LLC acquired a new position in shares of Laser Photonics during the 3rd quarter worth approximately $118,000. L1 Global Manager Pty Ltd bought a new stake in Laser Photonics in the 4th quarter valued at $339,000. Finally, Geode Capital Management LLC lifted its holdings in Laser Photonics by 94.8% during the 4th 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 last quarter. Institutional investors own 1.90% of the company’s stock.

Laser Photonics Price Performance

LASE stock traded down $0.06 during trading hours on Friday, reaching $0.77. The stock had a trading volume of 1,936,786 shares, compared to its average volume of 2,185,938. The stock has a 50-day simple moving average of $2.11 and a 200 day simple moving average of $3.00. Laser Photonics has a fifty-two week low of $0.38 and a fifty-two week high of $6.77. The stock has a market capitalization of $17.43 million, a PE ratio of -0.61 and a beta of 3.39.

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.