LENSAR (NASDAQ:LNSR) Stock Price Up 2.3% – Here’s What Happened

LENSAR, Inc. (NASDAQ:LNSR) was up 2.3% during mid-day trading on Wednesday . The stock traded as high as $5.84 and last traded at $5.84. Approximately 86,698 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 112,924 shares. The stock had previously closed at $5.71.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LNSR. Weiss Ratings upgraded LENSAR from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of LENSAR from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Lake Street Capital raised shares of LENSAR from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, April 1st. Finally, BTIG Research upgraded shares of LENSAR from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.00.

LENSAR Trading Up 2.3%

The firm’s fifty day moving average price is $5.70 and its two-hundred day moving average price is $8.67. The stock has a market capitalization of $71.72 million, a PE ratio of -10.07 and a beta of 0.87.

LENSAR (NASDAQ:LNSR) last issued its quarterly earnings data on Friday, May 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $1.38. LENSAR had a net margin of 50.94% and a negative return on equity of 183.19%. The business had revenue of $13.43 million during the quarter, compared to the consensus estimate of $13.40 million.

Institutional Investors Weigh In On LENSAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in LENSAR by 129.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company’s stock worth $25,000 after buying an additional 1,131 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of LENSAR by 584.3% in the second quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company’s stock worth $62,000 after acquiring an additional 3,991 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of LENSAR in the second quarter worth approximately $68,000. New York State Common Retirement Fund purchased a new stake in shares of LENSAR during the second quarter worth approximately $105,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in LENSAR in the 3rd quarter valued at $125,000. Hedge funds and other institutional investors own 40.15% of the company’s stock.

About LENSAR

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.