Laser Photonics Co. (NASDAQ:LASE) Sees Large Decline in Short Interest

Laser Photonics Co. (NASDAQ:LASE) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 1,704,496 shares, a decrease of 56.3% from the April 15th total of 3,899,669 shares. Currently, 5.2% of the company’s stock are sold short. Based on an average daily volume of 2,782,145 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Laser Photonics

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Laser Photonics by 7.7% during the third quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock valued at $1,437,000 after buying an additional 23,792 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Laser Photonics by 7,350.9% during the first quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock valued at $457,000 after buying an additional 147,017 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 70,065 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Laser Photonics during the fourth quarter valued at $134,000. Finally, Millennium Management LLC purchased a new stake in shares of Laser Photonics during the fourth quarter valued at $41,000. 1.90% of the stock is owned by hedge funds and other institutional investors.

Laser Photonics Trading Down 4.7%

Shares of LASE stock traded down $0.04 during trading hours on Friday, reaching $0.88. 728,757 shares of the company’s stock were exchanged, compared to its average volume of 1,941,904. The stock’s 50 day moving average is $0.95 and its 200-day moving average is $1.84. The company has a market cap of $28.72 million, a price-to-earnings ratio of -0.50 and a beta of 2.53. Laser Photonics has a fifty-two week low of $0.38 and a fifty-two week high of $6.77.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Laser Photonics in a research report on Monday, March 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.