Laser Photonics Co. (NASDAQ:LASE) Short Interest Update

Laser Photonics Co. (NASDAQ:LASE) was the recipient of a large increase in short interest during the month of 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. Based on an average trading volume of 67,443,061 shares, the days-to-cover ratio is currently 0.0 days. Approximately 8.1% of the company’s stock are sold short.

Laser Photonics Trading Down 8.5%

Shares of NASDAQ:LASE traded down $0.14 during trading on Wednesday, hitting $1.51. 2,707,593 shares of the company were exchanged, compared to its average volume of 8,178,554. The stock has a market cap of $57.86 million, a price-to-earnings ratio of -0.83 and a beta of 2.59. Laser Photonics has a fifty-two week low of $0.38 and a fifty-two week high of $6.77. The firm has a fifty day moving average price of $1.50 and a two-hundred day moving average price of $1.50.

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

Institutional Trading of Laser Photonics

Institutional investors and hedge funds have recently bought and sold shares of the business. Anson Funds Management LP bought a new position in shares of Laser Photonics in the third quarter worth $1,776,000. Jones Financial Companies Lllp grew its stake in Laser Photonics by 7,350.8% during 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 in the last quarter. L1 Global Manager Pty Ltd bought a new position in Laser Photonics in the 4th quarter valued at about $339,000. Geode Capital Management LLC raised its position in shares of Laser Photonics by 94.8% in the 4th quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after buying an additional 70,065 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Laser Photonics during the 4th quarter worth approximately $134,000. Institutional investors own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

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

About Laser Photonics

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.