LENSAR, Inc. (NASDAQ:LNSR) Short Interest Down 45.7% in June

LENSAR, Inc. (NASDAQ:LNSR) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 505,438 shares, a decrease of 45.7% from the June 15th total of 931,678 shares. Approximately 12.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 185,422 shares, the days-to-cover ratio is currently 2.7 days.

LENSAR Stock Up 2.3%

NASDAQ:LNSR traded up $0.13 during trading hours on Friday, reaching $5.80. 18,510 shares of the company’s stock were exchanged, compared to its average volume of 87,690. The company has a market capitalization of $71.22 million, a P/E ratio of -10.00 and a beta of 0.87. LENSAR has a 12 month low of $5.06 and a 12 month high of $13.43. The business’s 50-day simple moving average is $5.85 and its two-hundred day simple moving average is $8.21.

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

Institutional Investors Weigh In On LENSAR

A number of institutional investors and hedge funds have recently modified their holdings of LNSR. Goldman Sachs Group Inc. purchased a new stake in shares of LENSAR during the first quarter valued at $546,000. Acadian Asset Management LLC purchased a new position in LENSAR in the 1st quarter worth about $257,000. Geode Capital Management LLC increased its stake in LENSAR by 103.9% in the 2nd 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 in the last quarter. JPMorgan Chase & Co. increased its stake in LENSAR by 584.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock worth $62,000 after purchasing an additional 3,991 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in LENSAR during the 2nd quarter worth about $105,000. 40.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings raised LENSAR from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of LENSAR from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Lake Street Capital raised shares of LENSAR from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

LENSAR Company Profile

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.