Laser Photonics (NASDAQ:LASE) Trading 5.3% Higher – Still a Buy?

Laser Photonics Co. (NASDAQ:LASE) shares traded up 5.3% during trading on Monday . The company traded as high as $1.21 and last traded at $1.20. Approximately 1,978,867 shares changed hands during trading, a decline of 73% from the average daily volume of 7,293,564 shares. The stock had previously closed at $1.14.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Laser Photonics in a research report on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Laser Photonics presently has a consensus rating of “Sell”.

Laser Photonics Trading Up 5.0%

The stock has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $1.25. The company has a market cap of $60.51 million, a price-to-earnings ratio of -0.70 and a beta of 2.39.

Laser Photonics (NASDAQ:LASE) last released its quarterly earnings results on Thursday, June 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. The firm had revenue of $0.92 million during the quarter.

Hedge Funds Weigh In On Laser Photonics

Several large investors have recently bought and sold shares of LASE. BlackRock Inc. bought a new stake in shares of Laser Photonics during the 2nd quarter worth about $334,000. XTX Topco Ltd acquired a new position in shares of Laser Photonics during the fourth quarter valued at approximately $134,000. Millennium Management LLC acquired a new position in shares of Laser Photonics during the fourth quarter valued at approximately $41,000. L1 Global Manager Pty Ltd bought a new stake in Laser Photonics during the fourth quarter worth approximately $339,000. Finally, 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 purchasing an additional 70,065 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company’s stock.

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.