Laser Photonics (NASDAQ:LASE) Posts Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) posted its earnings results on Thursday. The company reported ($0.16) earnings per share for the quarter, Zacks reports.

Laser Photonics Stock Performance

Shares of NASDAQ LASE traded up $0.26 during mid-day trading on Thursday, reaching $2.41. The company had a trading volume of 48,652,679 shares, compared to its average volume of 8,330,481. Laser Photonics has a one year low of $0.38 and a one year high of $6.77. The firm has a market cap of $92.95 million, a price-to-earnings ratio of -1.36 and a beta of 2.59. The business’s 50-day simple moving average is $1.19 and its 200 day simple moving average is $1.60.

Institutional Trading of Laser Photonics

A number of hedge funds have recently added to or reduced their stakes in LASE. CIBC Private Wealth Group LLC raised its stake 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 buying an additional 5,000 shares during the period. Millennium Management LLC acquired a new position in shares of Laser Photonics during the fourth quarter worth approximately $41,000. XTX Topco Ltd bought a new stake in Laser Photonics during the 4th quarter valued at $134,000. Geode Capital Management LLC raised its holdings in Laser Photonics by 94.8% during the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after buying an additional 70,065 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Laser Photonics by 7,350.9% in 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 in the last quarter. Institutional investors and hedge funds own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.