Laser Photonics Co. (NASDAQ:LASE) Sees Large Growth in Short Interest

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

Institutional Trading of Laser Photonics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASE. CIBC Private Wealth Group LLC lifted its holdings 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 worth $26,000 after buying an additional 5,000 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Laser Photonics in the fourth quarter worth $41,000. Stephens Inc. AR bought a new position in Laser Photonics during the third quarter worth $81,000. Vanguard Group Inc. raised its stake in Laser Photonics by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock valued at $1,437,000 after purchasing an additional 23,792 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Laser Photonics in the 3rd quarter worth $118,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

Laser Photonics Trading Down 5.8%

Laser Photonics stock traded down $0.07 on Thursday, reaching $1.06. 601,206 shares of the stock were exchanged, compared to its average volume of 1,973,876. Laser Photonics has a twelve month low of $0.38 and a twelve month high of $6.77. The firm has a fifty day moving average price of $1.48 and a two-hundred day moving average price of $2.74. The stock has a market cap of $24.03 million, a PE ratio of -0.84 and a beta of 3.64.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Laser Photonics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, 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.