Laser Photonics (NASDAQ:LASE) Trading 1% Higher – Should You Buy?

Laser Photonics Co. (NASDAQ:LASE) shares traded up 1% on Thursday . The company traded as high as $1.05 and last traded at $1.04. 1,200,629 shares traded hands during trading, a decline of 35% from the average session volume of 1,843,552 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Laser Photonics in a research report on Monday, March 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Laser Photonics has an average rating of “Sell”.

Laser Photonics Stock Performance

The firm’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $2.49. The firm has a market capitalization of $23.69 million, a price-to-earnings ratio of -0.83 and a beta of 3.64.

Institutional Investors Weigh In On Laser Photonics

Several hedge funds have recently added to or reduced their stakes in LASE. CIBC Private Wealth Group LLC grew its position in Laser Photonics by 500.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock worth $26,000 after purchasing an additional 5,000 shares during the period. Millennium Management LLC purchased a new stake in shares of Laser Photonics in the fourth quarter worth about $41,000. Stephens Inc. AR acquired a new stake in Laser Photonics during the third quarter worth about $81,000. Essex Investment Management Co. LLC purchased a new position in Laser Photonics during the third quarter valued at approximately $118,000. Finally, XTX Topco Ltd acquired a new position in Laser Photonics in the fourth quarter valued at approximately $134,000. 1.90% of the stock is owned by hedge funds and other institutional investors.

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.