Laser Photonics (NASDAQ:LASE) Shares Down 1.8% – Here’s Why

Laser Photonics Co. (NASDAQ:LASEGet Free Report)’s stock price was down 1.8% on Monday . The company traded as low as $0.8750 and last traded at $0.8756. Approximately 1,969,164 shares were traded during trading, a decline of 71% from the average daily volume of 6,851,029 shares. The stock had previously closed at $0.8919.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Laser Photonics in a research note on Monday, July 6th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Laser Photonics presently has an average rating of “Sell”.

Check Out Our Latest Research Report on Laser Photonics

Laser Photonics Stock Performance

The stock has a market capitalization of $42.55 million, a PE ratio of -0.48 and a beta of 2.44. The business’s 50-day moving average is $1.14 and its two-hundred day moving average is $1.25.

Laser Photonics (NASDAQ:LASEGet Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $1.81 million for the quarter.

Hedge Funds Weigh In On Laser Photonics

A hedge fund recently bought a new position in Laser Photonics stock. BlackRock Inc. bought a new position in shares of Laser Photonics Co. (NASDAQ:LASEFree Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 202,392 shares of the company’s stock, valued at approximately $334,000. BlackRock Inc. owned approximately 0.42% of Laser Photonics at the end of the most recent quarter. Hedge funds and other institutional investors own 1.90% of the company’s stock.

About Laser Photonics

(Get Free Report)

Laser Photonics Corporation (NASDAQ:LASE) develops and manufactures industrial laser systems for material processing and surface treatment. The company’s technologies are designed to provide alternatives to traditional abrasive blasting, chemical stripping and other conventional manufacturing methods.

Its product portfolio includes CleanTech laser cleaning and surface-preparation systems, which are used to remove rust, paint, coatings, oxides and other contaminants from metal and other materials.

Further Reading

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