Precision Optics Corp. (NASDAQ:POCI) Sees Significant Drop in Short Interest

Precision Optics Corp. (NASDAQ:POCI) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 6,994 shares, a drop of 35.9% from the August 31st total of 10,912 shares. Based on an average daily volume of 39,643 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Precision Optics Price Performance

Shares of Precision Optics stock opened at $4.15 on Thursday. The firm has a market cap of $45.53 million, a PE ratio of -9.02 and a beta of 0.32. Precision Optics has a twelve month low of $3.55 and a twelve month high of $6.15. The company has a quick ratio of 1.74, a current ratio of 2.28 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $4.35 and a 200 day moving average price of $4.63.

Precision Optics (NASDAQ:POCI) last issued its quarterly earnings data on Monday, September 28th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. The company had revenue of $8.77 million for the quarter, compared to analyst estimates 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

A hedge fund recently raised its position in Precision Optics stock. Needham Investment Management LLC raised its position in Precision Optics Corp. (NASDAQ:POCI) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 720,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Needham Investment Management LLC owned about 9.33% of Precision Optics worth $3,013,000 at the end of the most recent reporting period. 13.71% of the stock is currently owned by 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.