Precision Optics (NASDAQ:POCI) Stock Price Down 2.1% – Here’s Why

Precision Optics Corp. (NASDAQ:POCI) fell 2.1% during mid-day trading on Wednesday . The stock traded as low as $4.15 and last traded at $4.15. Approximately 32,700 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 41,663 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Precision Optics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Precision Optics Stock Performance

The company has a current ratio of 2.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The company has a market cap of $48.03 million, a price-to-earnings ratio of -6.97 and a beta of 0.34. The stock has a 50 day moving average price of $4.88 and a two-hundred day moving average price of $4.72.

Precision Optics (NASDAQ:POCI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.01) EPS for the quarter. The company had revenue of $8.71 million for the quarter. Precision Optics had a negative return on equity of 37.47% and a negative net margin of 17.03%.

Hedge Funds Weigh In On Precision Optics

Institutional investors have recently modified their holdings of the stock. Needham Investment Management LLC increased its stake in shares of Precision Optics by 2.9% in the 4th quarter. Needham Investment Management LLC now owns 720,000 shares of the company’s stock valued at $3,013,000 after acquiring an additional 20,000 shares during the last quarter. WealthTrust Axiom LLC boosted its stake in Precision Optics by 2.7% during the 4th quarter. WealthTrust Axiom LLC now owns 231,808 shares of the company’s stock worth $970,000 after acquiring an additional 6,158 shares during the last quarter. Geode Capital Management LLC boosted its stake in Precision Optics by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 58,436 shares of the company’s stock worth $245,000 after acquiring an additional 1,926 shares during the last quarter. DRW Securities LLC acquired a new position in Precision Optics during the fourth quarter valued at approximately $94,000. Finally, Jane Street Group LLC acquired a new position in Precision Optics during the fourth quarter valued at approximately $48,000. 13.71% of the stock is currently owned by institutional investors and hedge funds.

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.