LENSAR (NASDAQ:LNSR) Stock Price Up 2% - Here's What Happened

LENSAR, Inc. (NASDAQ:LNSR - Get Free Report)'s share price shot up 2% on Tuesday . The stock traded as high as $12.55 and last traded at $12.49. 65,173 shares changed hands during trading, a decline of 23% from the average session volume of 84,633 shares. The stock had previously closed at $12.24.

Analysts Set New Price Targets

Several research firms recently weighed in on LNSR. BTIG Research lowered shares of LENSAR from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Lake Street Capital reissued a "hold" rating and set a $15.00 price target (down from $16.00) on shares of LENSAR in a research report on Monday, March 24th.

LENSAR Stock Up 2.0%

The company has a fifty day simple moving average of $13.50 and a two-hundred day simple moving average of $11.91. The stock has a market capitalization of $147.26 million, a P/E ratio of -2.58 and a beta of 0.52.

LENSAR (NASDAQ:LNSR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.16). LENSAR had a negative net margin of 99.17% and a negative return on equity of 737.30%. The business had revenue of $11.53 million for the quarter, compared to the consensus estimate of $13.40 million.

Institutional Investors Weigh In On LENSAR

Several institutional investors have recently added to or reduced their stakes in LNSR. Bailard Inc. bought a new stake in LENSAR in the 4th quarter valued at $181,000. Gabelli Funds LLC bought a new stake in shares of LENSAR in the first quarter valued at about $191,000. Atria Investments Inc lifted its holdings in shares of LENSAR by 28.2% in the fourth quarter. Atria Investments Inc now owns 26,055 shares of the company's stock valued at $233,000 after purchasing an additional 5,729 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of LENSAR in the first quarter valued at about $236,000. Finally, Nuveen LLC bought a new stake in shares of LENSAR in the first quarter valued at about $252,000. 40.15% of the stock is owned by institutional investors.

LENSAR Company Profile

LENSAR, Inc, a commercial-stage medical device company, focuses on designing, developing, and marketing a femtosecond laser system for the treatment of cataracts and the management of pre-existing or surgically induced corneal astigmatism. It offers LENSAR Laser System that incorporates a range of proprietary technologies designed to assist the surgeon in obtaining visual outcomes, efficiency, and reproducibility by providing imaging, procedure planning, design, and precision.

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