Laser Photonics Co. (NASDAQ:LASE) Short Interest Down 25.2% in September

Key Points

• Short interest in Laser Photonics Co. dropped by 25.2% in September, with 418,400 shares shorted as of September 15th.
• Institutional investor OLD National Bancorp IN acquired 14,000 shares of Laser Photonics, representing about 0.10% of the company.
• Several analysts have downgraded Laser Photonics, with Wall Street Zen reducing their rating from "hold" to "sell."

Laser Photonics Co. (NASDAQ:LASE - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 418,400 shares, a drop of 25.2% from the August 31st total of 559,600 shares. Based on an average daily trading volume, of 5,310,000 shares, the short-interest ratio is currently 0.1 days. Approximately 7.7% of the shares of the company are short sold. Approximately 7.7% of the shares of the company are short sold. Based on an average daily trading volume, of 5,310,000 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Laser Photonics

An institutional investor recently bought a new position in Laser Photonics stock. OLD National Bancorp IN purchased a new position in shares of Laser Photonics Co. (NASDAQ:LASE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,000 shares of the company's stock, valued at approximately $43,000. OLD National Bancorp IN owned approximately 0.10% of Laser Photonics as of its most recent SEC filing. 1.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Laser Photonics from a "hold" rating to a "sell" rating in a research note on Friday. Weiss Ratings reiterated a "sell (d+)" rating on shares of Laser Photonics in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Laser Photonics has an average rating of "Sell".

Laser Photonics Price Performance

Shares of Laser Photonics stock opened at $4.62 on Tuesday. The firm has a market cap of $65.96 million, a P/E ratio of -15.40 and a beta of 3.20. The firm has a 50 day simple moving average of $3.43 and a 200 day simple moving average of $2.98. Laser Photonics has a fifty-two week low of $1.71 and a fifty-two week high of $10.15.

Laser Photonics (NASDAQ:LASE - Get Free Report) last issued its quarterly earnings results on Friday, August 15th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $2.60 million for the quarter.

Laser Photonics Company Profile

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.

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