Laser Photonics (NASDAQ:LASE) Shares Up 5.4% – Still a Buy?

Laser Photonics Co. (NASDAQ:LASE)’s stock price shot up 5.4% on Monday . The company traded as high as $1.1899 and last traded at $1.17. 3,613,585 shares were traded during mid-day trading, an increase of 80% from the average session volume of 2,010,422 shares. The stock had previously closed at $1.11.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Laser Photonics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Laser Photonics has an average rating of “Sell”.

Laser Photonics Stock Up 5.4%

The firm’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $2.78. The firm has a market capitalization of $26.65 million, a PE ratio of -0.93 and a beta of 3.63.

Institutional Investors Weigh In On Laser Photonics

Institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its position in Laser Photonics by 500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after acquiring an additional 5,000 shares during the last quarter. Millennium Management LLC bought a new stake in Laser Photonics in the fourth quarter valued at approximately $41,000. Stephens Inc. AR bought a new stake in Laser Photonics in the third quarter valued at approximately $81,000. Essex Investment Management Co. LLC purchased a new stake in shares of Laser Photonics during the third quarter valued at approximately $118,000. Finally, XTX Topco Ltd purchased a new stake in shares of Laser Photonics during the fourth quarter valued at approximately $134,000. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

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.