LENSAR (NASDAQ:LNSR) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded LENSAR from “hold” to “sell.” Other analysts’ views remain mixed, and MarketBeat reported an average rating of “hold” with an $11 price target.
• LENSAR reported a quarterly loss of $0.38 per share, missing the consensus estimate of a $0.10 loss. Revenue was $14.13 million, slightly below the $14.30 million estimate.
• Shares opened at $5.00, within a 12-month range of $4.30 to $12.94; institutional investors own about 40.15% of the stock.

LENSAR (NASDAQ:LNSR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

LNSR has been the subject of a number of other research reports. Loop Capital set a $11.00 price objective on shares of LENSAR in a research report on Monday, September 28th. Lake Street Capital restated a "buy" rating and set a $13.00 target price on shares of LENSAR in a research report on Thursday, August 13th. Weiss Ratings raised shares of LENSAR from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, October 22nd. Finally, BTIG Research lowered their target price on shares of LENSAR from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $11.00.

LENSAR Trading Up 6.4%

Shares of LNSR stock opened at $5.00 on Friday. The company has a market capitalization of $61.45 million, a price-to-earnings ratio of -12.50 and a beta of 1.03. The firm has a 50-day moving average price of $6.43 and a 200 day moving average price of $7.17. LENSAR has a twelve month low of $4.30 and a twelve month high of $12.94.

LENSAR (NASDAQ:LNSR - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.28). The firm had revenue of $14.13 million for the quarter, compared to analyst estimates of $14.30 million. LENSAR had a return on equity of 1,254.25% and a net margin of 56.07%.

Hedge Funds Weigh In On LENSAR

Several large investors have recently added to or reduced their stakes in LNSR. Gabelli Funds LLC raised its position in shares of LENSAR by 3.5% in the 1st quarter. Gabelli Funds LLC now owns 59,000 shares of the company's stock worth $352,000 after buying an additional 2,000 shares during the period. Gamco Investors INC. ET AL boosted its holdings in LENSAR by 10.0% in the first quarter. Gamco Investors INC. ET AL now owns 33,000 shares of the company's stock valued at $197,000 after acquiring an additional 3,000 shares during the last quarter. Rangeley Capital LLC grew its position in LENSAR by 6.8% during the first quarter. Rangeley Capital LLC now owns 63,000 shares of the company's stock valued at $375,000 after acquiring an additional 4,000 shares during the period. Royal Bank of Canada grew its position in LENSAR by 78.2% during the first quarter. Royal Bank of Canada now owns 20,095 shares of the company's stock valued at $120,000 after acquiring an additional 8,818 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in LENSAR during the second quarter valued at about $58,000. 40.15% of the stock is currently owned by hedge funds and other institutional investors.

LENSAR Company Profile

LENSAR, Inc. develops and markets laser-based technology for ophthalmic surgery, with a focus on procedures used to treat cataracts. Its systems are designed to assist surgeons with key steps in cataract surgery, including the creation of incisions and the fragmentation of the eye's natural lens. The company's products include the ALLY Adaptive Cataract Treatment System and the LENSAR Laser System, which use imaging and software to support surgical planning and treatment. LENSAR also offers related software, accessories and services for ophthalmic practices and surgical facilities.

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