Laser Photonics (NASDAQ:LASE) Trading Up 5.4% – Here’s What Happened

Laser Photonics Co. (NASDAQ:LASE) was up 5.4% during trading on Monday . The company traded as high as $1.1899 and last traded at $1.17. Approximately 3,613,585 shares changed hands during trading, an increase of 80% from the average daily volume of 2,010,422 shares. The stock had previously closed at $1.11.

Analysts Set New Price Targets

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 company has an average rating of “Sell”.

Laser Photonics Trading Up 5.2%

The business has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $2.74. The stock has a market cap of $25.51 million, a price-to-earnings ratio of -0.89 and a beta of 3.64.

Institutional Trading of Laser Photonics

Hedge funds have recently made changes to their positions in the stock. Anson Funds Management LP bought a new stake in shares of Laser Photonics in the third quarter worth $1,776,000. Jones Financial Companies Lllp boosted its stake in Laser Photonics by 7,350.9% during the 1st quarter. Jones Financial Companies Lllp now owns 149,017 shares of the company’s stock valued at $457,000 after acquiring an additional 147,017 shares during the last quarter. L1 Global Manager Pty Ltd acquired a new position in Laser Photonics during the 4th quarter worth $339,000. Geode Capital Management LLC increased its position in shares of Laser Photonics by 94.8% in the 4th quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after purchasing an additional 70,065 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Laser Photonics in the 4th quarter worth about $134,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

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.