LENSAR (NASDAQ:LNSR) Trading 1% Higher – Here’s Why

by · The Cerbat Gem

Shares of LENSAR, Inc. (NASDAQ:LNSR – Get Free Report) shot up 1% during mid-day trading on Thursday . The stock traded as high as $11.99 and last traded at $11.99. 23,354 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 33,894 shares. The stock had previously closed at $11.87.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LENSAR in a report on Wednesday, October 8th. Wall Street Zen raised LENSAR to a “hold” rating in a research report on Friday, November 28th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, LENSAR presently has a consensus rating of “Reduce” and an average target price of $15.00.

Get Our Latest Stock Report on LENSAR

LENSAR Price Performance

The business has a fifty day simple moving average of $11.12 and a two-hundred day simple moving average of $12.01.

LENSAR (NASDAQ:LNSR – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.23). The firm had revenue of $14.32 million for the quarter, compared to analysts’ expectations of $17.75 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new position in shares of LENSAR during the 1st quarter valued at about $546,000. Groupe la Francaise raised its stake in LENSAR by 99.5% during the 2nd quarter. Groupe la Francaise now owns 251,400 shares of the company’s stock worth $3,311,000 after acquiring an additional 125,400 shares during the period. Deltec Asset Management LLC bought a new stake in LENSAR during the 2nd quarter worth approximately $428,000. Credit Industriel ET Commercial lifted its holdings in LENSAR by 98.4% during the second quarter. Credit Industriel ET Commercial now owns 168,600 shares of the company’s stock valued at $2,220,000 after purchasing an additional 83,600 shares in the last quarter. Finally, Draper Asset Management LLC boosted its position in shares of LENSAR by 4.9% in the second quarter. Draper Asset Management LLC now owns 41,985 shares of the company’s stock worth $536,000 after purchasing an additional 1,945 shares during the period. Hedge funds and other institutional investors own 40.15% of the company’s stock.

LENSAR Company Profile

(Get Free Report)

LENSAR, Inc, headquartered in Orlando, Florida, is a medical technology company specializing in advanced laser systems for ophthalmic surgery. Its flagship product, the LENSAR Laser System, combines proprietary three-dimensional imaging with precision-guided femtosecond laser delivery to perform critical steps in cataract procedures, including capsulotomy creation, lens fragmentation and corneal incisions.

Founded in 2005, LENSAR has concentrated its research and development efforts on enhancing surgical accuracy and patient outcomes in cataract treatment.

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