Laser Photonics (NASDAQ:LASE) Shares Up 5.3% – Here’s What Happened

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

Analysts Set New Price Targets

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

Laser Photonics Price Performance

The stock has a market cap of $57.18 million, a price-to-earnings ratio of -0.66 and a beta of 2.39. The business has a fifty day moving average of $1.67 and a 200 day moving average of $1.26.

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

Institutional Investors Weigh In On Laser Photonics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Laser Photonics by 7.7% during the third quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock worth $1,437,000 after buying an additional 23,792 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Laser Photonics by 7,350.8% in the first quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock worth $457,000 after buying an additional 147,017 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Laser Photonics during the 4th quarter worth about $134,000. Millennium Management LLC bought a new stake in shares of Laser Photonics during the 4th quarter worth about $41,000. Finally, Geode Capital Management LLC increased its holdings in shares of Laser Photonics by 94.8% during the 4th quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after acquiring an additional 70,065 shares during the last quarter. 1.90% of the stock is currently owned by institutional investors.

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.