Laser Photonics (NASDAQ:LASE) Releases Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) released its quarterly earnings data on Friday. The company reported ($0.08) earnings per share for the quarter, FiscalAI reports. The company had revenue of $1.81 million during the quarter.

Laser Photonics Price Performance

LASE stock traded up $0.11 during midday trading on Friday, reaching $1.48. 2,635,237 shares of the stock were exchanged, compared to its average volume of 7,160,933. Laser Photonics has a 52 week low of $0.38 and a 52 week high of $6.77. The company has a fifty day moving average price of $1.56 and a 200 day moving average price of $1.24. The stock has a market capitalization of $70.52 million, a PE ratio of -0.82 and a beta of 2.39.

Institutional Trading of Laser Photonics

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its holdings in 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 last quarter. Millennium Management LLC acquired a new position in Laser Photonics in the 4th quarter valued at approximately $41,000. Vanguard Group Inc. increased its position in Laser Photonics by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock valued at $1,437,000 after acquiring an additional 23,792 shares during the period. XTX Topco Ltd bought a new position in shares of Laser Photonics during the fourth quarter valued at $134,000. Finally, Geode Capital Management LLC raised its stake in shares of Laser Photonics by 94.8% during the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after acquiring an additional 70,065 shares during the last quarter. 1.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Laser Photonics in a report on Monday, July 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus 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.