Laser Photonics (NASDAQ:LASE) Shares Down 3.7% – Here’s What Happened

Laser Photonics Co. (NASDAQ:LASE) shares traded down 3.7% during trading on Wednesday . The stock traded as low as $2.06 and last traded at $2.11. 349,166 shares were traded during trading, a decline of 49% from the average session volume of 682,422 shares. The stock had previously closed at $2.19.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LASE shares. Wall Street Zen cut shares of Laser Photonics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Laser Photonics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Laser Photonics Stock Performance

The firm’s 50-day moving average price is $2.77 and its two-hundred day moving average price is $3.21. The stock has a market cap of $47.14 million, a price-to-earnings ratio of -1.67 and a beta of 3.37.

Laser Photonics (NASDAQ:LASE) last posted its earnings results on Monday, December 22nd. The company reported ($1.09) earnings per share for the quarter. The business had revenue of $0.92 million for the quarter.

Institutional Investors Weigh In On Laser Photonics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LASE. CIBC Private Wealth Group LLC lifted its stake in shares of Laser Photonics by 500.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock valued at $26,000 after purchasing an additional 5,000 shares during the last quarter. Stephens Inc. AR acquired a new position in Laser Photonics in the third quarter valued at about $81,000. Essex Investment Management Co. LLC purchased a new position in Laser Photonics during the third quarter worth about $118,000. Jones Financial Companies Lllp increased its position in shares of Laser Photonics by 7,350.9% during the first quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock valued at $457,000 after acquiring an additional 147,017 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Laser Photonics by 7.7% during the third quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock valued at $1,437,000 after acquiring an additional 23,792 shares during the last quarter. Hedge funds and other institutional investors own 1.90% of the company’s stock.

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.