LENSAR (NASDAQ:LNSR) Shares Down 0.6% – Should You Sell?

Shares of LENSAR, Inc. (NASDAQ:LNSR) traded down 0.6% during mid-day trading on Monday. The company traded as low as $6.79 and last traded at $6.88. 34,769 shares were traded during mid-day trading, a decline of 49% from the average session volume of 67,541 shares. The stock had previously closed at $6.92.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LNSR. Wall Street Zen upgraded shares of LENSAR from a “hold” rating to a “buy” rating in a research report on Sunday, August 23rd. BTIG Research increased their price target on shares of LENSAR from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Lake Street Capital restated a “buy” rating and set a $13.00 price target on shares of LENSAR in a research note on Thursday, August 13th. Weiss Ratings cut shares of LENSAR from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Finally, Loop Capital set a $11.00 price objective on LENSAR in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, LENSAR presently has a consensus rating of “Hold” and a consensus target price of $11.33.

LENSAR Stock Down 0.6%

The business has a 50-day simple moving average of $7.21 and a two-hundred day simple moving average of $6.44. The stock has a market capitalization of $84.56 million, a P/E ratio of -20.85 and a beta of 0.97.

LENSAR (NASDAQ:LNSR) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. LENSAR had a negative return on equity of 529.08% and a net margin of 57.57%.The company had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $14.65 million.

Hedge Funds Weigh In On LENSAR

Several institutional investors have recently added to or reduced their stakes in LNSR. Engineers Gate Manager LP acquired a new position in LENSAR in the second quarter valued at about $63,000. Susquehanna International Group LLP bought a new stake in LENSAR during the second quarter worth about $253,000. Man Group plc acquired a new stake in shares of LENSAR during the second quarter worth approximately $445,000. Sanctuary Advisors LLC acquired a new stake in shares of LENSAR during the second quarter worth approximately $96,000. Finally, DCF Advisers LLC bought a new position in shares of LENSAR in the second quarter valued at approximately $675,000. 40.15% of the stock is owned by institutional investors.

About LENSAR

LENSAR, Inc is a medical technology company focused on ophthalmic laser systems used in cataract surgery. The company develops femtosecond laser technology designed to assist surgeons with key steps of the procedure, including corneal incisions, lens fragmentation and astigmatism management.

Its product portfolio includes the LENSAR Laser System, an image-guided platform that uses three-dimensional imaging and software-based treatment planning. The system’s capabilities include the company’s Streamline software and IntelliAxis technology, which are intended to support customized treatment planning and the placement of corneal incisions.

LENSAR has marketed its systems to ophthalmic surgeons and health-care providers in the United States and international markets, supported by direct sales and distribution arrangements.