Laser Photonics (NASDAQ:LASE) Posts Quarterly Earnings Results

Laser Photonics (NASDAQ:LASE) posted its earnings results on Monday. The company reported ($0.44) EPS for the quarter, Zacks reports.

Laser Photonics Trading Down 2.6%

Laser Photonics stock traded down $0.03 during midday trading on Monday, reaching $1.12. 1,264,923 shares of the stock traded hands, compared to its average volume of 1,932,478. Laser Photonics has a 12-month low of $0.38 and a 12-month high of $6.77. The company has a 50-day simple moving average of $0.95 and a two-hundred day simple moving average of $2.24. The firm has a market cap of $25.51 million, a PE ratio of -0.89 and a beta of 3.42.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Laser Photonics by 7.7% during the third quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock worth $1,437,000 after buying an additional 23,792 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Laser Photonics by 7,350.9% during the first quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock worth $457,000 after buying an additional 147,017 shares during the period. Geode Capital Management LLC increased 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 worth $356,000 after buying an additional 70,065 shares during the period. XTX Topco Ltd purchased a new stake in shares of Laser Photonics during the fourth quarter worth approximately $134,000. Finally, Millennium Management LLC purchased a new stake in shares of Laser Photonics during the fourth quarter worth approximately $41,000. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

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.