Laser Photonics Co. (NASDAQ:LASE) Short Interest Update

Laser Photonics Co. (NASDAQ:LASE) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 1,704,496 shares, a drop of 56.3% from the April 15th total of 3,899,669 shares. Based on an average daily trading volume, of 2,782,145 shares, the short-interest ratio is presently 0.6 days. Currently, 5.2% of the company’s stock are sold short.

Laser Photonics Stock Performance

Shares of Laser Photonics stock traded down $0.04 during trading hours on Friday, reaching $0.88. The company’s stock had a trading volume of 728,757 shares, compared to its average volume of 1,941,904. Laser Photonics has a one year low of $0.38 and a one year high of $6.77. The company has a market capitalization of $28.72 million, a P/E ratio of -0.50 and a beta of 2.53. The stock’s fifty day simple moving average is $0.95 and its two-hundred day simple moving average is $1.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Laser Photonics in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its position in shares of Laser Photonics by 500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock valued at $26,000 after purchasing an additional 5,000 shares in the last quarter. Millennium Management LLC bought a new position in shares of Laser Photonics during the fourth quarter valued at about $41,000. Stephens Inc. AR bought a new position in shares of Laser Photonics during the third quarter valued at about $81,000. Essex Investment Management Co. LLC bought a new position in shares of Laser Photonics during the third quarter valued at about $118,000. Finally, XTX Topco Ltd bought a new position in shares of Laser Photonics during the fourth quarter valued at about $134,000. 1.90% of the stock is owned by institutional investors.

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.