Laser Photonics (NASDAQ:LASE) Releases Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) posted its quarterly earnings results on Thursday. The company reported ($0.16) EPS for the quarter, Zacks reports.

Laser Photonics Stock Up 12.1%

Laser Photonics stock traded up $0.26 during trading hours on Thursday, reaching $2.41. 48,572,123 shares of the company’s stock were exchanged, compared to its average volume of 8,328,120. The firm’s 50 day simple moving average is $1.19 and its 200 day simple moving average is $1.60. Laser Photonics has a twelve month low of $0.38 and a twelve month high of $6.77. The firm has a market capitalization of $92.95 million, a PE ratio of -1.36 and a beta of 2.59.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Laser Photonics

A number of institutional investors and hedge funds have recently made changes to their positions in LASE. Vanguard Group Inc. lifted its position in Laser Photonics by 7.7% in the 3rd 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 in the last quarter. Jones Financial Companies Lllp lifted its position in Laser Photonics by 7,350.9% in the 1st 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 in the last quarter. Geode Capital Management LLC lifted its position in Laser Photonics by 94.8% in the 4th quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after acquiring an additional 70,065 shares in the last quarter. XTX Topco Ltd bought a new position in Laser Photonics in the 4th quarter valued at about $134,000. Finally, Millennium Management LLC bought a new position in Laser Photonics in the 4th quarter valued at about $41,000. 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.