Short Interest in Laser Photonics Co. (NASDAQ:LASE) Declines By 18.2%

Laser Photonics Co. (NASDAQ:LASE - Get Free Report) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 425,600 shares, a drop of 18.2% from the January 15th total of 520,000 shares. Based on an average trading volume of 336,100 shares, the days-to-cover ratio is currently 1.3 days. Currently, 8.6% of the company's stock are sold short.

Institutional investors have recently added to or reduced their stakes in the company. Anson Funds Management LP purchased a new stake in shares of Laser Photonics during the third quarter worth about $4,077,000. Geode Capital Management LLC increased its holdings in Laser Photonics by 30.1% during the 4th quarter. Geode Capital Management LLC now owns 78,939 shares of the company's stock worth $456,000 after purchasing an additional 18,283 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Laser Photonics in the 3rd quarter valued at approximately $577,000. Renaissance Technologies LLC acquired a new stake in shares of Laser Photonics during the fourth quarter worth approximately $134,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Laser Photonics in the fourth quarter worth $108,000. Institutional investors and hedge funds own 1.90% of the company's stock.

Shares of LASE traded up $0.02 during mid-day trading on Tuesday, reaching $3.97. 44,804 shares of the stock traded hands, compared to its average volume of 240,774. The stock has a fifty day simple moving average of $5.23 and a 200 day simple moving average of $5.81. Laser Photonics has a 12-month low of $1.00 and a 12-month high of $19.80. The firm has a market cap of $54.84 million, a price-to-earnings ratio of -9.06 and a beta of 3.47.

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.

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