Laser Photonics (NASDAQ:LASE) Stock Price Down 1.7% - Here's Why

Laser Photonics Co. (NASDAQ:LASE - Get Free Report) traded down 1.7% during trading on Thursday . The stock traded as low as $5.51 and last traded at $5.89. 921,652 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,764,418 shares. The stock had previously closed at $5.99.

The company has a market cap of $71.90 million, a P/E ratio of -24.29 and a beta of 3.19. The stock has a fifty day moving average price of $7.25 and a two-hundred day moving average price of $3.91.

Laser Photonics (NASDAQ:LASE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.20) earnings per share (EPS) for the quarter. The business had revenue of $0.62 million during the quarter.

A hedge fund recently bought a new stake in Laser Photonics stock. XTX Topco Ltd bought a new position in shares of Laser Photonics Co. (NASDAQ:LASE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,898 shares of the company's stock, valued at approximately $32,000. XTX Topco Ltd owned approximately 0.14% of Laser Photonics at the end of the most recent reporting period. 1.90% of the stock is owned by hedge funds and other institutional investors.

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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