Traders Purchase Large Volume of Laser Photonics Call Options (NASDAQ:LASE)

Laser Photonics Co. (NASDAQ:LASE) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 4,324 call options on the company. This represents an increase of 399% compared to the typical volume of 866 call options.

Laser Photonics Price Performance

Shares of LASE traded up $1.48 during trading hours on Tuesday, hitting $2.41. The stock had a trading volume of 878,312 shares, compared to its average volume of 1,842,974. The firm has a 50 day simple moving average of $0.92 and a 200-day simple moving average of $1.61. The firm has a market capitalization of $78.42 million, a P/E ratio of -0.65 and a beta of 2.53. Laser Photonics has a 1-year low of $0.38 and a 1-year high of $6.77.

Institutional Trading of Laser Photonics

Large investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its stake in shares of Laser Photonics by 500.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock valued at $26,000 after buying an additional 5,000 shares during the period. Millennium Management LLC acquired a new stake in shares of Laser Photonics in the 4th quarter valued at about $41,000. Essex Investment Management Co. LLC acquired a new stake in shares of Laser Photonics in the 3rd quarter valued at about $118,000. XTX Topco Ltd acquired a new stake in shares of Laser Photonics in the 4th quarter valued at about $134,000. Finally, L1 Global Manager Pty Ltd acquired a new stake in shares of Laser Photonics in the 4th quarter valued at about $339,000. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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