Short Interest in Laser Photonics Co. (NASDAQ:LASE) Drops By 21.0%

Laser Photonics Co. (NASDAQ:LASE) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 204,200 shares, a drop of 21.0% from the December 31st total of 258,600 shares. Based on an average daily trading volume, of 2,130,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 4.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Laser Photonics

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in Laser Photonics in the second quarter valued at approximately $32,000. Spire Wealth Management acquired a new stake in shares of Laser Photonics during the fourth quarter worth $81,000. Jane Street Group LLC bought a new stake in Laser Photonics in the 3rd quarter valued at $577,000. Geode Capital Management LLC boosted its stake in Laser Photonics by 53.4% in the 3rd quarter. Geode Capital Management LLC now owns 60,656 shares of the company’s stock worth $989,000 after purchasing an additional 21,106 shares during the period. Finally, Anson Funds Management LP bought a new position in Laser Photonics during the 3rd quarter worth about $4,077,000. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Laser Photonics Stock Performance

LASE stock traded down $0.12 during midday trading on Friday, hitting $4.74. 237,636 shares of the company’s stock were exchanged, compared to its average volume of 260,301. Laser Photonics has a one year low of $0.98 and a one year high of $19.80. The stock’s fifty day moving average price is $5.51 and its 200-day moving average price is $5.57. The company has a market cap of $65.56 million, a PE ratio of -10.77 and a beta of 3.53.

Laser Photonics Company Profile

Laser Photonics Corporation provides integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning, and surface conditioning in the Americas, Europe, Asia, the Middle East, and North Africa. It offers laser cleaning systems, such as CleanTech Titan FX for cleaning, rust removal, and surface conditioning; CleanTech Titan Express, a high-power fiber laser for cleaning and surface conditioning; CleanTech MegaCenter, an industrial-grade laser parts cleaning, rust removal, and surface conditioning system; CleanTech Handheld LPC-50-CTHD, an entry-level dual axis laser cleaning and surface treatment system; CleanTech Handheld LPC-100-CTHD, an air-cooled pulsed laser systems; CleanTech Handheld LPC-200-CTHD for cleaning rust, remove paints, and other coatings; CleanTech Handheld LPC-300-CTHD, a air-cooled laser system; CleanTech Handheld LPC-1000-CTHS, a single axis laser cleaning and surface treatment system; CleanTech Handheld LPC-1000-CTHD, a portable handheld roughing laser cleaner; CleanTech Handheld-1500-CTHS, an handheld laser cleaning, roughing, and surface preparation system; CleanTech Handheld-1500-CTHD, a dual axis fiber laser system; CleanTech Handheld LPC-2000-CTHD for cleaning rust and remove coatings; CleanTech LPC-3000-CTHD for cleaning and removing rust, corrosion, and other materials; CleanTech Laser Blaster Cabinet, a laser cleaning machine; CleanTech Robotic Cell Enclosure, an AI-capable laser cleaning system that eliminates the concerns over human hazard and eye safety; CleanTech EZ- Rider, a laser cleaning tool; and CleanTech Robot, an industrial robotic laser cleaning system.