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

Key Points

• Short interest in LENSAR dropped sharply in June, falling 45.7% to 505,438 shares as of June 30. That represents about 12.0% of the float, with a days-to-cover ratio of 2.7 days.
• Institutional investors have been adding to positions, with several hedge funds and large financial firms increasing holdings during recent quarters. Overall, about 40.15% of LENSAR’s stock is owned by hedge funds and other institutional investors.
• Analyst sentiment is mixed but leans cautious-to-neutral: two analysts rate the stock a Buy, one rates it Sell, and the consensus target price is $10.00. The shares were last trading at $5.76, well below that target.

LENSAR, Inc. (NASDAQ:LNSR - Get Free Report) saw a large decrease in short interest in June. As of June 30th, there was short interest totaling 505,438 shares, a decrease of 45.7% from the June 15th total of 931,678 shares. Currently, 12.0% of the shares of the company are sold short. Based on an average daily trading volume, of 185,422 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On LENSAR

A number of hedge funds and other institutional investors have recently modified their holdings of LNSR. BNP Paribas Financial Markets boosted its stake in LENSAR by 129.0% in the third quarter. BNP Paribas Financial Markets now owns 2,008 shares of the company's stock worth $25,000 after buying an additional 1,131 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LENSAR by 584.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company's stock worth $62,000 after acquiring an additional 3,991 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of LENSAR in the 2nd quarter valued at $68,000. New York State Common Retirement Fund purchased a new stake in shares of LENSAR in the 2nd quarter valued at $105,000. Finally, Royal Bank of Canada grew its holdings in shares of LENSAR by 78.2% during the 1st quarter. Royal Bank of Canada now owns 20,095 shares of the company's stock valued at $120,000 after purchasing an additional 8,818 shares during the last quarter. 40.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on LNSR shares. Weiss Ratings upgraded shares of LENSAR from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. BTIG Research raised LENSAR from a "neutral" rating to a "buy" rating and set a $10.00 price target for the company in a report on Tuesday, March 17th. Lake Street Capital upgraded LENSAR from a "hold" rating to a "buy" rating and set a $10.00 price target for the company in a research report on Wednesday, April 1st. Finally, Wall Street Zen cut LENSAR from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $10.00.

LENSAR Stock Down 1.0%

NASDAQ:LNSR opened at $5.76 on Wednesday. The stock has a market cap of $70.73 million, a P/E ratio of -9.93 and a beta of 0.87. The business's 50-day moving average price is $5.84 and its two-hundred day moving average price is $8.30. LENSAR has a twelve month low of $5.06 and a twelve month high of $13.43.

LENSAR (NASDAQ:LNSR - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $0.18 by $1.38. LENSAR had a net margin of 50.94% and a negative return on equity of 183.19%. The company had revenue of $13.43 million for the quarter, compared to analysts' expectations of $13.40 million.

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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