Short Interest in Laser Photonics Co. (NASDAQ:LASE) Decreases By 56.3%

Laser Photonics Co. (NASDAQ:LASE) was the target of a significant decline in short interest in the month of 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. Currently, 5.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,782,145 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Laser Photonics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LASE. Anson Funds Management LP bought a new stake in Laser Photonics during the third quarter worth $1,776,000. Jones Financial Companies Lllp increased its holdings 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 worth $457,000 after buying an additional 147,017 shares in the last quarter. L1 Global Manager Pty Ltd acquired a new position in shares of Laser Photonics during the fourth quarter worth $339,000. Geode Capital Management LLC increased its holdings in shares of Laser Photonics by 94.8% during the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after buying an additional 70,065 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Laser Photonics during the fourth quarter worth $134,000. 1.90% of the stock is currently owned by institutional investors.

Laser Photonics Trading Down 4.7%

NASDAQ LASE traded down $0.04 on Friday, hitting $0.88. 728,757 shares of the company’s stock were exchanged, compared to its average volume of 1,941,904. The stock has a 50-day moving average of $0.95 and a 200-day moving average of $1.82. Laser Photonics has a 52 week low of $0.38 and a 52 week high of $6.77. The stock has a market cap of $28.72 million, a price-to-earnings ratio of -0.50 and a beta of 2.53.

Analyst Upgrades and Downgrades

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