LENSAR (NASDAQ:LNSR) Shares Up 2% - Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNSR. BTIG Research cut 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 issued a $15.00 price target (down from $16.00) on shares of LENSAR in a research note on Monday, March 24th.

LENSAR Trading Up 1.7%

The firm has a fifty day moving average of $13.43 and a two-hundred day moving average of $12.01. The company has a market capitalization of $150.44 million, a PE ratio of -2.63 and a beta of 0.52.

LENSAR (NASDAQ:LNSR - Get Free Report) last announced 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 company had revenue of $11.53 million during 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 position in shares of LENSAR during the fourth quarter valued at about $181,000. Gabelli Funds LLC purchased a new position in LENSAR during the 1st quarter valued at about $191,000. Atria Investments Inc raised its position in LENSAR by 28.2% during the 4th 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 during the last quarter. PenderFund Capital Management Ltd. purchased a new stake in LENSAR in the 1st quarter worth approximately $236,000. Finally, Nuveen LLC purchased a new stake in LENSAR in the 1st quarter worth approximately $252,000. Hedge funds and other institutional investors own 40.15% of the company's stock.

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.