Precision Optics Corp. (NASDAQ:POCI) Short Interest Down 41.2% in August

Precision Optics Corp. (NASDAQ:POCI) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 10,912 shares, a decline of 41.2% from the August 15th total of 18,570 shares. Based on an average daily trading volume, of 39,307 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Precision Optics Price Performance

NASDAQ:POCI traded down $0.04 during trading hours on Wednesday, reaching $4.17. The stock had a trading volume of 24,034 shares, compared to its average volume of 37,767. The stock has a market capitalization of $45.62 million, a PE ratio of -6.62 and a beta of 0.32. Precision Optics has a 52 week low of $3.55 and a 52 week high of $6.15. The company has a 50 day moving average price of $4.39 and a two-hundred day moving average price of $4.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 2.10.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on POCI. Wall Street Zen upgraded Precision Optics to a “hold” rating in a research note 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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Precision Optics

A hedge fund recently raised its position in Precision Optics stock. Needham Investment Management LLC lifted its holdings in Precision Optics Corp. (NASDAQ:POCI) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 720,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Needham Investment Management LLC owned 9.33% of Precision Optics worth $3,013,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.71% of the company’s stock.

Precision Optics Company Profile

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.