Short Interest in Laser Photonics Co. (NASDAQ:LASE) Drops By 19.2%

Laser Photonics Co. (NASDAQ:LASE) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 258,600 shares, a drop of 19.2% from the November 30th total of 320,000 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 2,560,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Laser Photonics

A number of hedge funds have recently added to or reduced their stakes in LASE. Geode Capital Management LLC grew its position in shares of Laser Photonics by 53.4% during the 3rd quarter. Geode Capital Management LLC now owns 60,656 shares of the company’s stock worth $989,000 after buying an additional 21,106 shares during the period. Anson Funds Management LP bought a new position in Laser Photonics during the third quarter worth $4,077,000. Jane Street Group LLC bought a new stake in Laser Photonics in the third quarter valued at $577,000. Finally, XTX Topco Ltd acquired a new position in shares of Laser Photonics during the second quarter valued at about $32,000. 1.90% of the stock is currently owned by institutional investors.

Laser Photonics Stock Performance

Shares of NASDAQ:LASE traded down $0.58 during midday trading on Friday, reaching $6.64. The company’s stock had a trading volume of 714,837 shares, compared to its average volume of 1,528,976. Laser Photonics has a fifty-two week low of $0.98 and a fifty-two week high of $19.80. The firm has a 50 day moving average price of $5.54 and a two-hundred day moving average price of $5.02. The firm has a market capitalization of $91.84 million, a price-to-earnings ratio of -15.09 and a beta of 3.55.

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.