Laser Photonics Co. (NASDAQ:LASE) Sees Large Decline in Short Interest

Laser Photonics Co. (NASDAQ:LASE) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 1,704,496 shares, a decline of 56.3% from the April 15th total of 3,899,669 shares. Based on an average trading volume of 2,782,145 shares, the short-interest ratio is currently 0.6 days. Currently, 5.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Laser Photonics

Large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised 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 buying an additional 5,000 shares in the last quarter. Millennium Management LLC bought a new position in Laser Photonics in the fourth quarter worth approximately $41,000. Stephens Inc. AR acquired a new position in shares of Laser Photonics during the third quarter worth $81,000. Essex Investment Management Co. LLC acquired a new position in shares of Laser Photonics during the third quarter worth $118,000. Finally, XTX Topco Ltd acquired a new position in shares of Laser Photonics during the fourth quarter worth $134,000. Institutional investors own 1.90% of the company’s stock.

Laser Photonics Stock Performance

NASDAQ:LASE traded down $0.04 during trading hours on Friday, reaching $0.88. The company’s stock had a trading volume of 728,757 shares, compared to its average volume of 1,941,904. The company has a market capitalization of $28.72 million, a P/E ratio of -0.50 and a beta of 2.53. Laser Photonics has a 12 month low of $0.38 and a 12 month high of $6.77. The stock has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $1.84.

Analyst Ratings Changes

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