Laser Photonics (NASDAQ:LASE) Posts Earnings Results

Laser Photonics (NASDAQ:LASE) announced its quarterly earnings data on Thursday. The company reported ($0.16) EPS for the quarter, Zacks reports.

Laser Photonics Trading Up 12.1%

Shares of LASE stock traded up $0.26 on Thursday, hitting $2.41. 48,572,123 shares of the stock were exchanged, compared to its average volume of 8,328,120. The firm has a market capitalization of $92.95 million, a P/E ratio of -1.36 and a beta of 2.59. The business has a 50-day moving average of $1.19 and a 200 day moving average of $1.60. Laser Photonics has a fifty-two week low of $0.38 and a fifty-two week high of $6.77.

Institutional Trading of Laser Photonics

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased its position in shares of Laser Photonics by 500.0% in 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 during the period. Millennium Management LLC acquired a new stake in Laser Photonics during the fourth quarter worth about $41,000. Vanguard Group Inc. increased its holdings in Laser Photonics by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock valued at $1,437,000 after buying an additional 23,792 shares during the period. XTX Topco Ltd acquired a new position in shares of Laser Photonics in the 4th quarter valued at approximately $134,000. Finally, Geode Capital Management LLC lifted 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 worth $356,000 after acquiring an additional 70,065 shares during the period. Institutional investors own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Laser Photonics in a research note on Monday, March 23rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Laser Photonics currently has a consensus rating of “Sell”.

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.