Short Interest in Precision Optics Corp. (NASDAQ:POCI) Decreases By 59.0%

Precision Optics Corp. (NASDAQ:POCI) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 12,121 shares, a decline of 59.0% from the May 31st total of 29,532 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 48,253 shares, the days-to-cover ratio is currently 0.3 days.

Precision Optics Stock Down 1.0%

Shares of NASDAQ:POCI traded down $0.06 during trading on Monday, hitting $5.24. 14,262 shares of the company were exchanged, compared to its average volume of 36,949. The stock has a market cap of $57.27 million, a price-to-earnings ratio of -8.31 and a beta of 0.31. Precision Optics has a fifty-two week low of $3.55 and a fifty-two week high of $6.15. The firm has a fifty day moving average price of $5.04 and a two-hundred day moving average price of $4.66. The company has a current ratio of 2.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

Precision Optics (NASDAQ:POCI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. Precision Optics had a negative return on equity of 37.47% and a negative net margin of 17.03%.The company had revenue of $8.71 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Precision Optics in the 3rd quarter valued at about $49,000. Jane Street Group LLC bought a new position in Precision Optics during the fourth quarter worth about $48,000. DRW Securities LLC acquired a new position in Precision Optics during the fourth quarter worth approximately $94,000. Geode Capital Management LLC increased its position in Precision Optics by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 58,436 shares of the company’s stock worth $245,000 after buying an additional 1,926 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its stake in Precision Optics by 2.7% in the fourth quarter. WealthTrust Axiom LLC now owns 231,808 shares of the company’s stock valued at $970,000 after buying an additional 6,158 shares during the period. Institutional investors own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Precision Optics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About Precision Optics

Precision Optics Corporation, Inc designs, develops, manufactures, and sells specialized optical and illumination systems and related components primarily in the United States and the European Economic Area. It offers medical instrumentation products, including endoscopes and endocouplers, as well as other custom imaging and illumination products, such as Microprecision lenses and micro medical cameras, and 3D endoscopes for use in minimally invasive surgical procedures by hospitals and physicians.