Laser Photonics (NASDAQ:LASE) Announces Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) posted its quarterly earnings results on Monday. The company reported ($1.09) earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $0.92 million during the quarter.

Laser Photonics Trading Up 2.9%

Shares of Laser Photonics stock traded up $0.08 during trading on Wednesday, reaching $2.71. The stock had a trading volume of 47,350 shares, compared to its average volume of 1,610,768. The company has a market capitalization of $60.80 million, a price-to-earnings ratio of -9.02 and a beta of 3.26. The stock has a fifty day moving average price of $3.25 and a two-hundred day moving average price of $3.20. Laser Photonics has a 52 week low of $1.71 and a 52 week high of $7.31.

Institutional Trading of Laser Photonics

A number of institutional investors have recently made changes to their positions in LASE. CIBC Private Wealth Group LLC grew its position in Laser Photonics by 500.0% in 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. Jones Financial Companies Lllp boosted its position in Laser Photonics by 7,350.9% during the first quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock valued at $457,000 after purchasing an additional 147,017 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Laser Photonics by 7.7% in the third 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 in the last quarter. Institutional investors own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

LASE has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Laser Photonics in a research report on Wednesday, October 8th. Wall Street Zen lowered 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 data from MarketBeat, the company currently has an average rating of “Sell”.

Laser Photonics Company Profile

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.