Laser Photonics (NASDAQ:LASE) Releases Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) announced its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share for the quarter, Zacks reports. The company had revenue of $0.92 million during the quarter.

Laser Photonics Price Performance

Laser Photonics stock opened at $2.41 on Friday. The business has a 50 day simple moving average of $1.22 and a 200-day simple moving average of $1.60. The stock has a market capitalization of $92.95 million, a PE ratio of -1.36 and a beta of 2.59. Laser Photonics has a 12 month low of $0.38 and a 12 month high of $6.77.

Institutional Trading of Laser Photonics

Institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in shares of 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 acquiring an additional 5,000 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Laser Photonics in the fourth quarter worth approximately $41,000. XTX Topco Ltd acquired a new stake in shares of Laser Photonics in the fourth quarter worth approximately $134,000. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 70,065 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Laser Photonics by 7,350.9% in 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 last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.