Laser Photonics Co. (NASDAQ:LASE) Short Interest Up 111.5% in February

Laser Photonics Co. (NASDAQ:LASE) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 3,101,744 shares, a growth of 111.5% from the February 12th total of 1,466,248 shares. Based on an average daily trading volume, of 1,333,056 shares, the days-to-cover ratio is presently 2.3 days. Currently, 13.6% of the company’s stock are sold short. Currently, 13.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,333,056 shares, the days-to-cover ratio is presently 2.3 days.

Laser Photonics Stock Down 5.8%

LASE stock traded down $0.07 during trading on Thursday, reaching $1.06. 601,206 shares of the company’s stock were exchanged, compared to its average volume of 1,973,876. The firm has a market cap of $24.03 million, a PE ratio of -0.84 and a beta of 3.64. Laser Photonics has a 1-year low of $0.38 and a 1-year high of $6.77. The company’s fifty day moving average price is $1.48 and its 200-day moving average price is $2.74.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Laser Photonics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its position in Laser Photonics by 500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after acquiring an additional 5,000 shares during the period. Millennium Management LLC acquired a new position in shares of Laser Photonics in the fourth quarter worth $41,000. Stephens Inc. AR purchased a new stake in shares of Laser Photonics during the third quarter worth $81,000. Essex Investment Management Co. LLC acquired a new stake in Laser Photonics during the third quarter valued at $118,000. Finally, XTX Topco Ltd purchased a new position in Laser Photonics in the fourth quarter valued at about $134,000. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.