Precision Optics Corp. (NASDAQ:POCI) Short Interest Down 20.2% in April

Precision Optics Corp. (NASDAQ:POCI) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 21,176 shares, a decrease of 20.2% from the March 31st total of 26,535 shares. Based on an average daily volume of 43,390 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precision Optics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Precision Optics has a consensus rating of “Sell”.

Precision Optics Stock Up 0.7%

Shares of NASDAQ:POCI traded up $0.03 during trading hours on Friday, reaching $4.26. The stock had a trading volume of 6,422 shares, compared to its average volume of 26,617. The stock has a market capitalization of $32.95 million, a price-to-earnings ratio of -4.63 and a beta of 0.32. The firm’s 50 day moving average is $4.29 and its 200-day moving average is $4.42. Precision Optics has a 1 year low of $3.55 and a 1 year high of $6.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.05.

Precision Optics (NASDAQ:POCI) last issued its earnings results on Tuesday, February 17th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $7.37 million for the quarter. Precision Optics had a negative return on equity of 60.56% and a negative net margin of 28.33%.

Institutional Investors Weigh In On Precision Optics

Several hedge funds and other institutional investors have recently made changes to their positions in POCI. Jane Street Group LLC acquired a new position in Precision Optics in the fourth quarter valued at approximately $48,000. DRW Securities LLC acquired a new position in shares of Precision Optics in the 4th quarter valued at $94,000. Geode Capital Management LLC boosted its holdings in shares of Precision Optics by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 58,436 shares of the company’s stock valued at $245,000 after buying an additional 1,926 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Precision Optics in the 3rd quarter valued at $49,000. Finally, Needham Investment Management LLC raised its stake in Precision Optics by 2.9% during the 4th quarter. Needham Investment Management LLC now owns 720,000 shares of the company’s stock worth $3,013,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 13.71% of the company’s stock.

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.