LENSAR (NASDAQ:LNSR) Stock Price Up 1.6% – Still a Buy?

Shares of LENSAR, Inc. (NASDAQ:LNSR) were up 1.6% during mid-day trading on Tuesday . The stock traded as high as $5.69 and last traded at $5.69. Approximately 22,368 shares were traded during trading, a decline of 51% from the average daily volume of 45,638 shares. The stock had previously closed at $5.60.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LNSR shares. Wall Street Zen downgraded shares of LENSAR from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of LENSAR from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. BTIG Research upgraded shares of LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Tuesday, March 17th. Finally, Lake Street Capital upgraded shares of LENSAR from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, April 1st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

LENSAR Price Performance

The company’s 50-day simple moving average is $5.70 and its 200-day simple moving average is $9.15. The stock has a market capitalization of $70.42 million, a price-to-earnings ratio of -10.03 and a beta of 0.87.

LENSAR (NASDAQ:LNSR) last issued its quarterly earnings data on Friday, May 8th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $1.38. LENSAR had a net margin of 50.94% and a negative return on equity of 183.19%. The firm had revenue of $13.43 million during the quarter, compared to the consensus estimate of $13.40 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LNSR. Geode Capital Management LLC increased its holdings in shares of LENSAR by 103.9% during the second quarter. Geode Capital Management LLC now owns 219,373 shares of the company’s stock worth $2,890,000 after purchasing an additional 111,802 shares during the period. Brandes Investment Partners LP increased its holdings in shares of LENSAR by 10.1% during the fourth quarter. Brandes Investment Partners LP now owns 856,216 shares of the company’s stock worth $9,958,000 after purchasing an additional 78,513 shares during the period. Evernest Financial Advisors LLC bought a new position in shares of LENSAR in the first quarter worth $393,000. Rangeley Capital LLC bought a new position in shares of LENSAR in the second quarter worth $658,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of LENSAR by 436.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 54,166 shares of the company’s stock worth $630,000 after purchasing an additional 44,072 shares during the period. 40.15% of the stock is owned by institutional investors.

About LENSAR

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.