LENSAR (NASDAQ:LNSR) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of LENSAR (NASDAQ:LNSR) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

LNSR has been the topic of a number of other research reports. Loop Capital set a $11.00 price target on shares of LENSAR in a research note on Monday, September 28th. Weiss Ratings raised shares of LENSAR from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 22nd. Lake Street Capital restated a “buy” rating and issued a $13.00 price objective on shares of LENSAR in a research note on Thursday, August 13th. Finally, BTIG Research reduced their price objective on shares of LENSAR from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

LENSAR Stock Up 6.4%

Shares of LNSR stock traded up $0.30 during mid-day trading on Friday, reaching $5.00. The stock had a trading volume of 46,824 shares, compared to its average volume of 72,133. LENSAR has a one year low of $4.30 and a one year high of $12.94. The firm has a market cap of $61.45 million, a PE ratio of -12.50 and a beta of 1.03. The firm’s 50 day simple moving average is $6.43 and its 200 day simple moving average is $7.17.

LENSAR (NASDAQ:LNSR) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). The firm had revenue of $14.13 million for the quarter, compared to the consensus estimate of $14.30 million. LENSAR had a net margin of 56.07% and a return on equity of 1,254.25%.

Institutional Investors Weigh In On LENSAR

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of LENSAR in the 2nd quarter worth approximately $58,000. Engineers Gate Manager LP acquired a new stake in LENSAR in the 2nd quarter valued at $63,000. Sanctuary Advisors LLC acquired a new stake in LENSAR in the 2nd quarter valued at $96,000. State of Wyoming acquired a new stake in LENSAR in the 3rd quarter valued at $110,000. Finally, Royal Bank of Canada grew its position in LENSAR by 78.2% in the first quarter. Royal Bank of Canada now owns 20,095 shares of the company’s stock valued at $120,000 after acquiring an additional 8,818 shares during the period. 40.15% of the stock is currently owned by institutional investors.

About LENSAR

LENSAR, Inc. develops and markets laser-based technology for ophthalmic surgery, with a focus on procedures used to treat cataracts. Its systems are designed to assist surgeons with key steps in cataract surgery, including the creation of incisions and the fragmentation of the eye’s natural lens. The company’s products include the ALLY Adaptive Cataract Treatment System and the LENSAR Laser System, which use imaging and software to support surgical planning and treatment. LENSAR also offers related software, accessories and services for ophthalmic practices and surgical facilities.