LENSAR, Inc. (NASDAQ:LNSR) Sees Significant Growth in Short Interest

LENSAR, Inc. (NASDAQ:LNSR - Get Free Report) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 105,100 shares, an increase of 66.0% from the February 13th total of 63,300 shares. Approximately 1.2% of the company's stock are short sold. Based on an average daily volume of 93,700 shares, the short-interest ratio is currently 1.1 days.

LENSAR Price Performance

Shares of NASDAQ LNSR traded up $1.31 during midday trading on Wednesday, reaching $16.87. 215,670 shares of the company traded hands, compared to its average volume of 51,714. The stock has a 50-day moving average price of $11.00 and a 200 day moving average price of $7.95. The company has a market cap of $198.88 million, a price-to-earnings ratio of -11.55 and a beta of 0.62. LENSAR has a 52 week low of $2.67 and a 52 week high of $17.28.

LENSAR (NASDAQ:LNSR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($1.61) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.40). The business had revenue of $16.73 million during the quarter, compared to the consensus estimate of $14.95 million. LENSAR had a negative return on equity of 49.02% and a negative net margin of 34.03%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital increased their target price on shares of LENSAR from $12.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, February 28th.

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Institutional Trading of LENSAR

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in LENSAR by 3.5% during the third quarter. Geode Capital Management LLC now owns 100,431 shares of the company's stock valued at $460,000 after buying an additional 3,423 shares during the period. Atria Investments Inc raised its holdings in shares of LENSAR by 28.2% during the 4th quarter. Atria Investments Inc now owns 26,055 shares of the company's stock valued at $233,000 after purchasing an additional 5,729 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of LENSAR by 18.3% in the fourth quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company's stock worth $357,000 after buying an additional 6,184 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in LENSAR in the 4th quarter worth approximately $174,000. Finally, Bailard Inc. acquired a new stake in shares of LENSAR in the fourth quarter worth $181,000. 40.15% of the stock is owned by hedge funds and other institutional investors.

LENSAR Company Profile

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.