Laser Photonics (NASDAQ:LASE) Releases Earnings Results

Laser Photonics (NASDAQ:LASE) released its quarterly earnings results on Friday. The company reported ($0.08) EPS for the quarter, FiscalAI reports. The company had revenue of $1.81 million for the quarter.

Laser Photonics Stock Performance

Shares of LASE stock traded up $0.11 on Friday, hitting $1.48. The company had a trading volume of 2,635,237 shares, compared to its average volume of 7,160,933. The firm has a market cap of $70.52 million, a P/E ratio of -0.84 and a beta of 2.39. The stock’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.24. Laser Photonics has a twelve month low of $0.38 and a twelve month high of $6.77.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Laser Photonics in a research note on Monday, July 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Laser Photonics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its holdings in shares of Laser Photonics by 500.0% during the third quarter. CIBC Private Wealth Group LLC now owns 6,000 shares of the company’s stock valued at $26,000 after purchasing an additional 5,000 shares during the period. Millennium Management LLC acquired a new position in Laser Photonics during the 4th quarter worth approximately $41,000. XTX Topco Ltd acquired a new position in Laser Photonics during the 4th quarter worth approximately $134,000. L1 Global Manager Pty Ltd bought a new position in Laser Photonics in the fourth quarter worth approximately $339,000. Finally, Geode Capital Management LLC boosted its holdings in Laser Photonics by 94.8% in the fourth quarter. Geode Capital Management LLC now owns 143,985 shares of the company’s stock worth $356,000 after acquiring an additional 70,065 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company’s stock.

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.