Laser Photonics (NASDAQ:LASE) Shares Down 1.4% – Should You Sell?

Laser Photonics Co. (NASDAQ:LASE)’s share price was down 1.4% during mid-day trading on Monday . The stock traded as low as $1.43 and last traded at $1.44. Approximately 1,050,508 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 6,793,007 shares. The stock had previously closed at $1.46.

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Laser Photonics Trading Down 1.4%

The company has a 50-day simple moving average of $1.31 and a 200 day simple moving average of $1.23. The company has a market cap of $72.26 million, a P/E ratio of -0.81 and a beta of 2.39.

Laser Photonics (NASDAQ:LASE) last released its earnings results on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $1.81 million during the quarter.

Hedge Funds Weigh In On Laser Photonics

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 147,017 shares during the period. Vanguard Group Inc. boosted its holdings in shares of 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 during the period. CIBC Private Wealth Group LLC grew its stake in 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 in the last quarter. Geode Capital Management LLC grew its stake in Laser Photonics by 94.8% in the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after purchasing an additional 70,065 shares in the last quarter. Finally, L1 Global Manager Pty Ltd purchased a new position in Laser Photonics during the 4th quarter worth $339,000. 1.90% of the stock is currently owned by institutional investors.

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.