Laser Photonics Co. (NASDAQ:LASE) Short Interest Up 88.0% in June

Laser Photonics Co. (NASDAQ:LASE) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 3,086,804 shares, an increase of 88.0% from the May 31st total of 1,641,486 shares. Currently, 8.1% of the shares of the company are sold short. Based on an average daily volume of 67,443,061 shares, the days-to-cover ratio is presently 0.0 days.

Laser Photonics Stock Performance

NASDAQ:LASE remained flat at $1.40 during mid-day trading on Friday. 1,890,124 shares of the company traded hands, compared to its average volume of 8,128,349. The firm’s 50-day moving average is $1.51 and its 200-day moving average is $1.49. The company has a market cap of $53.65 million, a P/E ratio of -0.77 and a beta of 2.59. Laser Photonics has a 12 month low of $0.38 and a 12 month high of $6.77.

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.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Laser Photonics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its holdings in shares of Laser Photonics by 500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after purchasing an additional 5,000 shares in the last quarter. Millennium Management LLC purchased a new stake in Laser Photonics in the fourth quarter valued at approximately $41,000. Vanguard Group Inc. raised its stake in Laser Photonics by 7.7% in the third quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock valued at $1,437,000 after purchasing an additional 23,792 shares in the last quarter. XTX Topco Ltd bought a new stake in Laser Photonics during the fourth quarter valued at approximately $134,000. Finally, Geode Capital Management LLC lifted its position in Laser Photonics by 94.8% during the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after purchasing an additional 70,065 shares during the last quarter. Hedge funds and other institutional investors 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.