Short Interest in Laser Photonics Co. (NASDAQ:LASE) Rises By 111.5%

Laser Photonics Co. (NASDAQ:LASE) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,101,744 shares, a growth of 111.5% from the February 12th total of 1,466,248 shares. Based on an average daily trading volume, of 1,333,056 shares, the days-to-cover ratio is currently 2.3 days. Currently, 13.6% of the shares of the company are sold short. Currently, 13.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,333,056 shares, the days-to-cover ratio is currently 2.3 days.

Laser Photonics Price Performance

Laser Photonics stock opened at $1.08 on Friday. Laser Photonics has a one year low of $0.38 and a one year high of $6.77. The business has a fifty day moving average price of $1.43 and a 200-day moving average price of $2.69. The firm has a market capitalization of $24.60 million, a P/E ratio of -0.86 and a beta of 3.63.

Hedge Funds Weigh In On Laser Photonics

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its holdings in shares of Laser Photonics by 500.0% in the third quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after buying an additional 5,000 shares during the period. Millennium Management LLC purchased a new stake in Laser Photonics during the 4th quarter valued at about $41,000. Stephens Inc. AR bought a new position in Laser Photonics during the 3rd quarter worth approximately $81,000. Vanguard Group Inc. grew its position in Laser Photonics by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock worth $1,437,000 after acquiring an additional 23,792 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Laser Photonics in the 3rd quarter worth approximately $118,000. Institutional investors own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Laser Photonics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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.