Laser Photonics (NASDAQ:LASE) Shares Up 4% – Here’s Why

Laser Photonics Co. (NASDAQ:LASE) was up 4% on Monday . The stock traded as high as $3.65 and last traded at $3.63. Approximately 111,855 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,466,896 shares. The stock had previously closed at $3.49.

Laser Photonics Stock Down 5.4 %

The firm has a fifty day moving average of $4.11 and a 200-day moving average of $5.84. The stock has a market capitalization of $45.78 million, a price-to-earnings ratio of -7.52 and a beta of 3.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Laser Photonics in the 3rd quarter valued at about $577,000. Anson Funds Management LP purchased a new stake in shares of Laser Photonics in the third quarter valued at about $4,077,000. Geode Capital Management LLC grew its position in shares of Laser Photonics by 53.4% in the third quarter. Geode Capital Management LLC now owns 60,656 shares of the company’s stock valued at $989,000 after purchasing an additional 21,106 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Laser Photonics during the 4th quarter worth approximately $81,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Laser Photonics during the 4th quarter worth approximately $108,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

About Laser Photonics

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.