LENSAR, Inc. (NASDAQ:LNSR) Sees Large Increase in Short Interest

LENSAR, Inc. (NASDAQ:LNSR) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 1,016,420 shares, an increase of 42.2% from the March 15th total of 714,594 shares. Currently, 24.7% of the company’s shares are short sold. Based on an average trading volume of 321,629 shares, the days-to-cover ratio is currently 3.2 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LNSR shares. Weiss Ratings restated a “sell (d-)” rating on shares of LENSAR in a research report on Thursday, January 22nd. BTIG Research upgraded shares of LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Tuesday, March 17th. Finally, Lake Street Capital upgraded shares of LENSAR from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, LENSAR presently has an average rating of “Hold” and a consensus target price of $10.00.

LENSAR Trading Up 3.5%

LNSR stock traded up $0.21 during midday trading on Wednesday, reaching $6.25. The company had a trading volume of 117,356 shares, compared to its average volume of 152,836. LENSAR has a 1 year low of $5.33 and a 1 year high of $14.31. The company has a market capitalization of $75.63 million, a P/E ratio of -2.16 and a beta of 0.99. The company has a 50 day moving average of $9.24 and a two-hundred day moving average of $10.77.

LENSAR (NASDAQ:LNSR) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $16.03 million for the quarter, compared to analyst estimates of $20.30 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in shares of LENSAR by 129.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock valued at $25,000 after purchasing an additional 1,131 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of LENSAR by 584.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock valued at $62,000 after purchasing an additional 3,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of LENSAR during the 2nd quarter valued at $68,000. New York State Common Retirement Fund acquired a new position in LENSAR in the 2nd quarter valued at $105,000. Finally, Wells Fargo & Company MN grew its stake in LENSAR by 69.4% in the 4th quarter. Wells Fargo & Company MN now owns 10,734 shares of the company’s stock valued at $125,000 after buying an additional 4,398 shares during the last quarter. Institutional investors own 40.15% of the company’s stock.

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.