LENSAR (NASDAQ:LNSR) Stock Price Up 0.1% - Still a Buy?

LENSAR, Inc. (NASDAQ:LNSR - Get Free Report)'s share price traded up 0.1% during mid-day trading on Wednesday . The stock traded as high as $13.95 and last traded at $13.84. 128,828 shares traded hands during trading, an increase of 83% from the average session volume of 70,280 shares. The stock had previously closed at $13.82.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BTIG Research cut LENSAR from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Lake Street Capital restated a "hold" rating and set a $15.00 price target (down previously from $16.00) on shares of LENSAR in a research note on Monday, March 24th.

LENSAR Trading Up 0.1 %

The firm has a market cap of $163.16 million, a price-to-earnings ratio of -9.48 and a beta of 0.56. The stock has a fifty day moving average price of $13.41 and a 200 day moving average price of $9.72.

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

Hedge Funds Weigh In On LENSAR

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of LENSAR by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 100,431 shares of the company's stock worth $460,000 after purchasing an additional 3,423 shares during the period. Atria Investments Inc grew its position in LENSAR by 28.2% during the fourth quarter. Atria Investments Inc now owns 26,055 shares of the company's stock worth $233,000 after buying an additional 5,729 shares in the last quarter. Brandes Investment Partners LP increased its stake in LENSAR by 10.4% during the fourth quarter. Brandes Investment Partners LP now owns 489,318 shares of the company's stock valued at $4,375,000 after acquiring an additional 45,920 shares during the period. Essex Investment Management Co. LLC raised its holdings in LENSAR by 18.3% in the 4th quarter. Essex Investment Management Co. LLC now owns 39,890 shares of the company's stock valued at $357,000 after acquiring an additional 6,184 shares in the last quarter. Finally, Evernest Financial Advisors LLC bought a new stake in shares of LENSAR in the 4th quarter worth approximately $174,000. Institutional investors and hedge funds 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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