LENSAR (NASDAQ:LNSR) Shares Down 0.6% - Here's Why

Key Points

• LENSAR shares fell 0.6% to $6.88 in light trading, with volume down 49% from the average session.
• Analyst views remain mixed: two analysts rate the stock “Buy” and one rates it “Sell,” resulting in a consensus “Hold” rating and an average price target of $11.33.
• LENSAR exceeded quarterly expectations, reporting $0.10 in EPS versus the estimated $0.16 loss and revenue of $16.5 million compared with the $14.65 million consensus estimate.

LENSAR, Inc. (NASDAQ:LNSR - Get Free Report) shares traded down 0.6% during trading on Monday. The stock traded as low as $6.79 and last traded at $6.88. 34,769 shares were traded during mid-day trading, a decline of 49% from the average session volume of 67,541 shares. The stock had previously closed at $6.92.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Loop Capital set a $11.00 price target on shares of LENSAR in a report on Monday. Wall Street Zen upgraded LENSAR from a "hold" rating to a "buy" rating in a research note on Sunday, August 23rd. Weiss Ratings cut LENSAR from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Lake Street Capital reiterated a "buy" rating and set a $13.00 price target on shares of LENSAR in a report on Thursday, August 13th. Finally, BTIG Research increased their price objective on LENSAR from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $11.33.

LENSAR Stock Performance

The firm's 50-day simple moving average is $7.21 and its 200-day simple moving average is $6.44. The company has a market capitalization of $84.56 million, a price-to-earnings ratio of -20.85 and a beta of 0.97.

LENSAR (NASDAQ:LNSR - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.26. LENSAR had a net margin of 57.57% and a negative return on equity of 529.08%. The business had revenue of $16.50 million during the quarter, compared to analyst estimates of $14.65 million.

Institutional Trading of LENSAR

A number of hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new stake in shares of LENSAR during the 2nd quarter worth approximately $63,000. Susquehanna International Group LLP acquired a new position in shares of LENSAR in the second quarter valued at $253,000. Man Group plc acquired a new position in shares of LENSAR in the second quarter valued at $445,000. Sanctuary Advisors LLC bought a new position in LENSAR in the second quarter worth $96,000. Finally, DCF Advisers LLC bought a new position in LENSAR in the second quarter worth $675,000. Institutional investors own 40.15% of the company's stock.

About LENSAR

LENSAR, Inc is a medical technology company focused on ophthalmic laser systems used in cataract surgery. The company develops femtosecond laser technology designed to assist surgeons with key steps of the procedure, including corneal incisions, lens fragmentation and astigmatism management.

Its product portfolio includes the LENSAR Laser System, an image-guided platform that uses three-dimensional imaging and software-based treatment planning. The system's capabilities include the company's Streamline software and IntelliAxis technology, which are intended to support customized treatment planning and the placement of corneal incisions.

LENSAR has marketed its systems to ophthalmic surgeons and health-care providers in the United States and international markets, supported by direct sales and distribution arrangements.

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