Laser Photonics Co. (NASDAQ:LASE) Short Interest Up 83.7% in January

Laser Photonics Co. (NASDAQ:LASE) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 1,292,396 shares, an increase of 83.7% from the January 15th total of 703,601 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 707,763 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 707,763 shares, the days-to-cover ratio is currently 1.8 days. Currently, 5.8% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Laser Photonics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Laser Photonics Stock Performance

Shares of NASDAQ LASE traded down $0.06 during midday trading on Friday, hitting $0.77. The company’s stock had a trading volume of 1,923,857 shares, compared to its average volume of 2,185,600. Laser Photonics has a 1-year low of $0.38 and a 1-year high of $6.77. The firm’s fifty day moving average price is $2.15 and its 200-day moving average price is $3.01. The firm has a market cap of $17.54 million, a P/E ratio of -0.61 and a beta of 3.39.

Institutional Trading of Laser Photonics

A number of institutional investors and hedge funds have recently made changes to their positions in LASE. CIBC Private Wealth Group LLC lifted its stake in Laser Photonics by 500.0% in the third 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. Stephens Inc. AR acquired a new stake in shares of Laser Photonics in the 3rd quarter worth about $81,000. Essex Investment Management Co. LLC bought a new stake in Laser Photonics in the 3rd quarter valued at about $118,000. L1 Global Manager Pty Ltd bought a new stake in Laser Photonics in the 4th quarter valued at about $339,000. Finally, Geode Capital Management LLC boosted its stake in Laser Photonics by 94.8% during the 4th quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock valued at $356,000 after purchasing an additional 70,065 shares during the period. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.