Lake Street Capital Reaffirms “Hold” Rating for LENSAR (NASDAQ:LNSR)

LENSAR (NASDAQ:LNSR)‘s stock had its “hold” rating reiterated by investment analysts at Lake Street Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $16.00. Lake Street Capital’s target price would suggest a potential upside of 5.49% from the company’s current price.

LENSAR Price Performance

NASDAQ:LNSR traded down $0.60 on Monday, hitting $14.22. 618,733 shares of the company’s stock were exchanged, compared to its average volume of 54,567. The firm has a 50-day moving average price of $11.44 and a 200-day moving average price of $8.19. LENSAR has a 52 week low of $2.67 and a 52 week high of $17.31. The company has a market cap of $167.64 million, a P/E ratio of -9.74 and a beta of 0.62.

LENSAR (NASDAQ:LNSR) last released its quarterly earnings data on Thursday, February 27th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.40). The company had revenue of $16.73 million for 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%.

Institutional Trading of LENSAR

Hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP lifted its stake in shares of LENSAR by 10.4% in the 4th 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 last quarter. Renaissance Technologies LLC boosted its stake in shares of LENSAR by 13.3% during the fourth quarter. Renaissance Technologies LLC now owns 348,891 shares of the company’s stock valued at $3,119,000 after purchasing an additional 40,946 shares in the last quarter. Bailard Inc. bought a new stake in shares of LENSAR during the fourth quarter worth about $181,000. Evernest Financial Advisors LLC bought a new position in LENSAR in the 4th quarter valued at approximately $174,000. Finally, Essex Investment Management Co. LLC boosted its position in LENSAR by 18.3% during the 4th 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 period. Institutional investors and hedge funds own 40.15% of the company’s stock.

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.