LENSAR (NASDAQ:LNSR) Shares Down 1.8% - Time to Sell?

Key Points

• LENSAR shares fell 1.8% to $5.96 in light trading, with volume down 68% from the average session.
• Analyst sentiment is mixed: two analysts rate the stock Buy and one rates it Sell, while the overall consensus is Hold with an average price target of $11.33.
• The company exceeded quarterly expectations, reporting $0.10 earnings per share versus a projected $0.16 loss and revenue of $16.50 million versus $14.65 million expected; institutional investors own 40.15% of the stock.

Shares of LENSAR, Inc. (NASDAQ:LNSR - Get Free Report) fell 1.8% during mid-day trading on Monday. The company traded as low as $5.95 and last traded at $5.96. 14,658 shares traded hands during trading, a decline of 68% from the average session volume of 46,436 shares. The stock had previously closed at $6.07.

Wall Street Analyst Weigh In

LNSR has been the subject of several research reports. Lake Street Capital reissued a "buy" rating and issued a $13.00 price objective on shares of LENSAR in a research note on Thursday, August 13th. BTIG Research boosted their target price on shares of LENSAR from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Weiss Ratings upgraded shares of LENSAR from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday. Loop Capital set a $11.00 price target on LENSAR in a research note on Monday, September 28th. Finally, Wall Street Zen downgraded LENSAR from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.33.

LENSAR Stock Performance

The stock has a market capitalization of $73.25 million, a P/E ratio of -18.06 and a beta of 0.95. The stock's fifty day simple moving average is $7.30 and its two-hundred day simple moving average is $7.63.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of LENSAR in the 2nd quarter worth about $1,057,000. DCF Advisers LLC bought a new stake in LENSAR in the second quarter worth about $675,000. Man Group plc purchased a new position in LENSAR in the second quarter valued at about $445,000. Evernest Financial Advisors LLC bought a new position in shares of LENSAR during the 1st quarter valued at approximately $393,000. Finally, Susquehanna International Group LLP bought a new position in shares of LENSAR during the 2nd quarter valued at approximately $253,000. 40.15% of the stock is currently owned by hedge funds and other institutional investors.

LENSAR Company Profile

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

Its product portfolio includes the LENSAR Laser System, which incorporates image-guidance and planning technologies intended to support precise, customized procedures.

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