LENSAR (NASDAQ:LNSR) Trading 0.6% Higher – Time to Buy?

Shares of LENSAR, Inc. (NASDAQ:LNSR) traded up 0.6% during mid-day trading on Thursday . The stock traded as high as $12.66 and last traded at $12.28. 113,489 shares were traded during trading, an increase of 262% from the average session volume of 31,360 shares. The stock had previously closed at $12.21.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LNSR shares. Wall Street Zen raised shares of LENSAR to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENSAR in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, LENSAR currently has a consensus rating of “Reduce” and a consensus target price of $15.00.

LENSAR Stock Down 1.6%

The stock has a 50 day moving average of $11.81 and a 200 day moving average of $11.94. The firm has a market cap of $144.24 million, a price-to-earnings ratio of -2.75 and a beta of 0.69.

LENSAR (NASDAQ:LNSR) last issued its earnings results on Thursday, November 6th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.23). The business had revenue of $14.32 million during the quarter, compared to analysts’ expectations of $17.75 million.

Hedge Funds Weigh In On LENSAR

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Industriel ET Commercial boosted its holdings in LENSAR by 0.8% in the fourth quarter. Credit Industriel ET Commercial now owns 124,483 shares of the company’s stock valued at $1,448,000 after acquiring an additional 1,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in LENSAR by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 5,928 shares of the company’s stock valued at $73,000 after acquiring an additional 1,254 shares during the period. Alpine Global Management LLC grew its position in LENSAR by 100.0% in the 3rd quarter. Alpine Global Management LLC now owns 50,000 shares of the company’s stock valued at $618,000 after purchasing an additional 25,000 shares during the period. Prelude Capital Management LLC acquired a new position in shares of LENSAR during the third quarter valued at about $145,000. Finally, Citadel Advisors LLC increased its holdings in LENSAR by 24.2% during the 3rd quarter. Citadel Advisors LLC now owns 18,127 shares of the company’s stock worth $224,000 after purchasing an additional 3,534 shares in the last quarter. 40.15% of the stock is owned by institutional investors and hedge funds.

About LENSAR

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.