Short Interest in LENSAR, Inc. (NASDAQ:LNSR) Decreases By 45.7%

LENSAR, Inc. (NASDAQ:LNSR) saw a large 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. Currently, 12.0% of the company’s shares are short sold. Based on an average trading volume of 185,422 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Ratings Changes

Several analysts have weighed in on LNSR shares. Wall Street Zen downgraded LENSAR from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Lake Street Capital raised shares of LENSAR from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, April 1st. Weiss Ratings upgraded shares of LENSAR from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, BTIG Research raised shares of LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LENSAR presently has a consensus rating of “Hold” and a consensus price target of $10.00.

LENSAR Stock Performance

Shares of LNSR stock opened at $5.76 on Wednesday. The firm has a market cap of $70.73 million, a P/E ratio of -9.93 and a beta of 0.87. LENSAR has a fifty-two week low of $5.06 and a fifty-two week high of $13.43. The business’s 50 day moving average price is $5.84 and its 200-day moving average price is $8.30.

LENSAR (NASDAQ:LNSR) last posted its 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. The firm had revenue of $13.43 million for the quarter, compared to analysts’ expectations of $13.40 million. LENSAR had a negative return on equity of 183.19% and a net margin of 50.94%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LNSR. BNP Paribas Financial Markets raised its holdings in LENSAR by 129.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock worth $25,000 after purchasing an additional 1,131 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of LENSAR during the 2nd quarter valued at about $68,000. New York State Common Retirement Fund bought a new stake in shares of LENSAR during the 2nd quarter valued at about $105,000. Finally, Royal Bank of Canada boosted its stake in shares of LENSAR by 78.2% during the 1st quarter. Royal Bank of Canada now owns 20,095 shares of the company’s stock valued at $120,000 after purchasing an additional 8,818 shares in the last quarter. 40.15% of the stock is owned by hedge funds and other institutional investors.

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.