LENSAR, Inc. (NASDAQ:LNSR) Short Interest Update

Key Points

• Short interest surged 42.2% to 1,016,420 shares as of March 31, equal to about 24.7% of the float and a days-to-cover ratio of 3.2.
• Q1 results missed estimates: LENSAR reported EPS of ($0.12) vs. ($0.10) expected and revenue of $16.03M vs. $20.30M, while the stock trades near $6 with a market cap of ~$73M and a 52-week range of $5.33–$14.31.
• Mixed market signals: Two analysts have upgraded to Buy and one rates it Sell (consensus Hold, $10 target), while institutional ownership is ~40% with recent new positions from firms including Goldman Sachs.

LENSAR, Inc. (NASDAQ:LNSR - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 1,016,420 shares, a growth of 42.2% from the March 15th total of 714,594 shares. Approximately 24.7% of the shares of the stock are sold short. Based on an average trading volume of 321,629 shares, the days-to-cover ratio is presently 3.2 days.

LENSAR Price Performance

NASDAQ LNSR traded up $0.12 during trading hours on Tuesday, reaching $6.04. The company's stock had a trading volume of 92,665 shares, compared to its average volume of 221,575. The firm has a fifty day simple moving average of $9.36 and a 200-day simple moving average of $10.80. The stock has a market cap of $73.08 million, a P/E ratio of -2.08 and a beta of 0.99. LENSAR has a 52 week low of $5.33 and a 52 week high of $14.31.

LENSAR (NASDAQ:LNSR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $16.03 million for the quarter, compared to analyst estimates of $20.30 million.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BTIG Research raised shares of LENSAR from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a report on Tuesday, March 17th. Lake Street Capital raised shares of LENSAR from a "hold" rating to a "buy" rating and set a $10.00 target price for the company in a report on Wednesday, April 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of LENSAR in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LNSR. Goldman Sachs Group Inc. bought a new position in LENSAR in the 1st quarter valued at approximately $546,000. Acadian Asset Management LLC bought a new position in LENSAR during the 1st quarter worth approximately $257,000. Geode Capital Management LLC raised its holdings in LENSAR by 103.9% during the 2nd quarter. Geode Capital Management LLC now owns 219,373 shares of the company's stock worth $2,890,000 after purchasing an additional 111,802 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in LENSAR by 584.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company's stock worth $62,000 after purchasing an additional 3,991 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in LENSAR during the 2nd quarter worth approximately $105,000. Institutional investors own 40.15% of the company's stock.

About LENSAR

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.

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