Short Interest in Precision Optics Corp. (NASDAQ:POCI) Decreases By 71.4%

Precision Optics Corp. (NASDAQ:POCI) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 10,413 shares, a decline of 71.4% from the November 30th total of 36,410 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 19,431 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 19,431 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s shares are short sold.

Precision Optics Stock Up 2.4%

Precision Optics stock traded up $0.10 during midday trading on Friday, hitting $4.20. 20,567 shares of the stock were exchanged, compared to its average volume of 17,208. Precision Optics has a 1 year low of $3.77 and a 1 year high of $5.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market cap of $32.38 million, a P/E ratio of -5.00 and a beta of 0.30. The company has a 50 day moving average price of $4.33 and a two-hundred day moving average price of $4.52.

Precision Optics (NASDAQ:POCI) last announced its earnings results on Thursday, November 13th. The company reported ($0.21) earnings per share (EPS) for the quarter. Precision Optics had a negative net margin of 28.31% and a negative return on equity of 53.29%. The business had revenue of $6.68 million during the quarter.

Hedge Funds Weigh In On Precision Optics

A number of hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in shares of Precision Optics during the third quarter worth $49,000. HighTower Advisors LLC lifted its holdings in Precision Optics by 34.9% in the first quarter. HighTower Advisors LLC now owns 96,565 shares of the company’s stock worth $401,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Needham Investment Management LLC boosted its stake in Precision Optics by 63.7% in the first quarter. Needham Investment Management LLC now owns 700,000 shares of the company’s stock valued at $2,905,000 after acquiring an additional 272,500 shares during the period. Institutional investors and hedge funds own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precision Optics in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Precision Optics presently has a consensus rating of “Sell”.

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.