Precision Optics Corp. (NASDAQ:POCI) Shares Shorted: Short Interest Down 35.9% in September

Precision Optics Corp. (NASDAQ:POCI) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 6,994 shares, a decrease of 35.9% from the August 31st total of 10,912 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 39,643 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

POCI has been the subject of a number of analyst reports. Wall Street Zen raised shares of Precision Optics to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Precision Optics in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Precision Optics Trading Up 1.1%

Precision Optics stock traded up $0.04 during midday trading on Friday, reaching $4.32. The stock had a trading volume of 5,330 shares, compared to its average volume of 42,060. Precision Optics has a twelve month low of $3.55 and a twelve month high of $6.15. The stock has a market capitalization of $47.34 million, a PE ratio of -9.38 and a beta of 0.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.74 and a current ratio of 2.28. The stock’s 50-day simple moving average is $4.35 and its 200 day simple moving average is $4.63.

Precision Optics (NASDAQ:POCI) last posted its quarterly earnings results on Monday, September 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The firm had revenue of $8.77 million during the quarter, compared to the consensus estimate of $7.10 million. Precision Optics had a negative return on equity of 23.92% and a negative net margin of 11.51%.

Institutional Trading of Precision Optics

An institutional investor recently raised its stake in Precision Optics stock. Needham Investment Management LLC boosted its holdings in Precision Optics Corp. (NASDAQ:POCI) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 720,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Needham Investment Management LLC owned approximately 9.33% of Precision Optics worth $3,013,000 at the end of the most recent reporting period. 13.71% of the stock is owned by hedge funds and other institutional investors.

Precision Optics Company Profile

Precision Optics Corporation, Inc (NASDAQ: POCI) designs and manufactures advanced optical and imaging systems, primarily for the medical device market. The company develops products used in minimally invasive surgery, including endoscopes, surgical cameras, and specialized visualization systems that help physicians view internal anatomy during diagnostic and therapeutic procedures.

Its product portfolio includes reusable and single-use endoscopes, three-dimensional imaging systems, fluorescence imaging technologies, and custom optical components and assemblies.