Weiss Ratings Reiterates Sell (D-) Rating for LENSAR (NASDAQ:LNSR)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for LENSAR (NASDAQ:LNSR), indicating ongoing negative sentiment toward the stock.
• LENSAR reported a loss of ($0.15) earnings per share, missing analysts' expectations, and revenue of $11.36 million, below projections of $16.55 million.
• Institutional investors own 40.15% of LENSAR's stock, with several firms significantly increasing their stakes in the company during the second quarter.

LENSAR (NASDAQ:LNSR - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

LENSAR Stock Up 1.0%

LNSR opened at $12.18 on Wednesday. The company has a market capitalization of $145.43 million, a price-to-earnings ratio of -2.89 and a beta of 0.49. The firm has a 50-day moving average price of $12.46 and a 200-day moving average price of $13.10. LENSAR has a twelve month low of $4.42 and a twelve month high of $17.31.

LENSAR (NASDAQ:LNSR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The business had revenue of $11.36 million during the quarter, compared to analysts' expectations of $16.55 million. LENSAR had a negative return on equity of 737.30% and a negative net margin of 84.49%.

Hedge Funds Weigh In On LENSAR

Large investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of LENSAR in the second quarter worth about $34,000. JPMorgan Chase & Co. increased its stake in shares of LENSAR by 584.3% in the second quarter. JPMorgan Chase & Co. now owns 4,674 shares of the company's stock worth $62,000 after purchasing an additional 3,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in LENSAR during the second quarter valued at approximately $68,000. New York State Common Retirement Fund purchased a new position in LENSAR during the second quarter valued at approximately $105,000. Finally, Engineers Gate Manager LP purchased a new position in LENSAR during the second quarter valued at approximately $168,000. Hedge funds and other institutional investors own 40.15% of the company's stock.

About LENSAR

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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