LENSAR, Inc. (NASDAQ:LNSR) Sees Large Drop in Short Interest

LENSAR, Inc. (NASDAQ:LNSR) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 108,200 shares, a drop of 21.9% from the March 15th total of 138,600 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily volume of 162,800 shares, the days-to-cover ratio is presently 0.7 days.

LENSAR Trading Up 1.2 %

NASDAQ LNSR traded up $0.16 on Friday, hitting $13.91. 89,445 shares of the company were exchanged, compared to its average volume of 69,177. The company has a market cap of $163.98 million, a PE ratio of -9.53 and a beta of 0.56. The stock has a fifty day moving average of $13.22 and a 200-day moving average of $9.56. LENSAR has a 12 month low of $2.95 and a 12 month high of $17.31.

LENSAR (NASDAQ:LNSR) last issued its earnings results on Thursday, February 27th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.40). LENSAR had a negative net margin of 34.03% and a negative return on equity of 49.02%. The firm had revenue of $16.73 million during the quarter, compared to analyst estimates of $14.95 million.

Hedge Funds Weigh In On LENSAR

A number of large investors have recently modified their holdings of LNSR. Geode Capital Management LLC boosted its holdings in LENSAR by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 100,431 shares of the company’s stock worth $460,000 after acquiring an additional 3,423 shares during the last quarter. Evernest Financial Advisors LLC purchased a new position in LENSAR during the fourth quarter worth about $174,000. Bailard Inc. bought a new stake in LENSAR in the 4th quarter worth about $181,000. Atria Investments Inc increased its stake in LENSAR by 28.2% in the 4th quarter. Atria Investments Inc now owns 26,055 shares of the company’s stock valued at $233,000 after buying an additional 5,729 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in shares of LENSAR by 18.3% in the fourth quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company’s stock valued at $357,000 after acquiring an additional 6,184 shares in the last quarter. 40.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BTIG Research cut shares of LENSAR from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Lake Street Capital reissued a “hold” rating and issued a $15.00 price objective (down from $16.00) on shares of LENSAR in a research note on Monday, March 24th.

LENSAR Company Profile

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision.