LENSAR (NASDAQ:LNSR) Shares Down 0.6% – Should You Sell?

LENSAR, Inc. (NASDAQ:LNSR) shares traded down 0.6% during trading on Monday. The company traded as low as $6.79 and last traded at $6.88. 34,769 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 67,541 shares. The stock had previously closed at $6.92.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LNSR. Weiss Ratings downgraded shares of LENSAR from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Wall Street Zen raised LENSAR from a “hold” rating to a “buy” rating in a research report on Sunday, August 23rd. Lake Street Capital restated a “buy” rating and issued a $13.00 price objective on shares of LENSAR in a research note on Thursday, August 13th. BTIG Research raised their price objective on LENSAR from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Loop Capital set a $11.00 target price on LENSAR in a report on Monday. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.33.

LENSAR Price Performance

The firm has a 50-day moving average price of $7.23 and a 200 day moving average price of $6.41. The company has a market cap of $83.43 million, a price-to-earnings ratio of -20.58 and a beta of 0.97.

LENSAR (NASDAQ:LNSR) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.26. The business had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $14.65 million. LENSAR had a negative return on equity of 529.08% and a net margin of 57.57%.

Institutional Investors Weigh In On LENSAR

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in LENSAR during the second quarter worth about $58,000. Engineers Gate Manager LP bought a new stake in LENSAR in the 2nd quarter valued at about $63,000. Sanctuary Advisors LLC bought a new stake in LENSAR in the 2nd quarter valued at about $96,000. Royal Bank of Canada grew its position in shares of LENSAR by 78.2% during the 1st quarter. Royal Bank of Canada now owns 20,095 shares of the company’s stock worth $120,000 after purchasing an additional 8,818 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of LENSAR by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 33,000 shares of the company’s stock worth $197,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 40.15% of the company’s stock.

LENSAR Company Profile

LENSAR, Inc is a medical technology company focused on ophthalmic laser systems used in cataract surgery. The company develops femtosecond laser technology designed to assist surgeons with key steps of the procedure, including corneal incisions, lens fragmentation and astigmatism management.

Its product portfolio includes the LENSAR Laser System, an image-guided platform that uses three-dimensional imaging and software-based treatment planning. The system’s capabilities include the company’s Streamline software and IntelliAxis technology, which are intended to support customized treatment planning and the placement of corneal incisions.

LENSAR has marketed its systems to ophthalmic surgeons and health-care providers in the United States and international markets, supported by direct sales and distribution arrangements.