Laser Photonics (NASDAQ:LASE) Stock Price Down 2.9% – What’s Next?

Laser Photonics Co. (NASDAQ:LASE)’s share price was down 2.9% on Monday . The company traded as low as $2.71 and last traded at $2.71. Approximately 138,553 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,683,208 shares. The stock had previously closed at $2.79.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LASE shares. Wall Street Zen cut shares of Laser Photonics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Laser Photonics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Laser Photonics Stock Performance

The stock has a market capitalization of $60.92 million, a PE ratio of -9.03 and a beta of 3.25. The business’s 50-day moving average price is $3.60 and its 200 day moving average price is $3.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LASE. Anson Funds Management LP bought a new position in shares of Laser Photonics in the third quarter worth approximately $1,776,000. Vanguard Group Inc. increased its holdings in shares of Laser Photonics by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 333,347 shares of the company’s stock worth $1,437,000 after buying an additional 23,792 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of 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 buying an additional 147,017 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Laser Photonics during the 3rd quarter worth $118,000. Finally, Stephens Inc. AR purchased a new position in Laser Photonics in the third quarter worth $81,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.

About Laser Photonics

Laser Photonics Corporation provides integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning, and surface conditioning in the Americas, Europe, Asia, the Middle East, and North Africa. It offers laser cleaning systems, such as CleanTech Titan FX for cleaning, rust removal, and surface conditioning; CleanTech Titan Express, a high-power fiber laser for cleaning and surface conditioning; CleanTech MegaCenter, an industrial-grade laser parts cleaning, rust removal, and surface conditioning system; CleanTech Handheld LPC-50-CTHD, an entry-level dual axis laser cleaning and surface treatment system; CleanTech Handheld LPC-100-CTHD, an air-cooled pulsed laser systems; CleanTech Handheld LPC-200-CTHD for cleaning rust, remove paints, and other coatings; CleanTech Handheld LPC-300-CTHD, a air-cooled laser system; CleanTech Handheld LPC-1000-CTHS, a single axis laser cleaning and surface treatment system; CleanTech Handheld LPC-1000-CTHD, a portable handheld roughing laser cleaner; CleanTech Handheld-1500-CTHS, an handheld laser cleaning, roughing, and surface preparation system; CleanTech Handheld-1500-CTHD, a dual axis fiber laser system; CleanTech Handheld LPC-2000-CTHD for cleaning rust and remove coatings; CleanTech LPC-3000-CTHD for cleaning and removing rust, corrosion, and other materials; CleanTech Laser Blaster Cabinet, a laser cleaning machine; CleanTech Robotic Cell Enclosure, an AI-capable laser cleaning system that eliminates the concerns over human hazard and eye safety; CleanTech EZ- Rider, a laser cleaning tool; and CleanTech Robot, an industrial robotic laser cleaning system.