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

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

Institutional Investors Weigh In On Precision Optics

An institutional investor recently raised its position in Precision Optics stock. Needham Investment Management LLC boosted its stake 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 firm owned 720,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Needham Investment Management LLC owned approximately 9.33% of Precision Optics worth $3,013,000 at the end of the most recent quarter. Institutional investors own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on POCI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precision Optics in a research note on Wednesday, September 2nd. Wall Street Zen raised shares of Precision Optics to a “hold” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Precision Optics Stock Down 2.8%

NASDAQ POCI opened at $4.15 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.28 and a debt-to-equity ratio of 0.03. Precision Optics has a 52 week low of $3.55 and a 52 week high of $6.15. The business’s fifty day simple moving average is $4.35 and its 200-day simple moving average is $4.63. The firm has a market cap of $45.53 million, a PE ratio of -9.02 and a beta of 0.32.

Precision Optics (NASDAQ:POCI) last issued its earnings results on Monday, September 28th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The company had revenue of $8.77 million for the quarter, compared to the consensus estimate of $7.10 million. Precision Optics had a negative net margin of 11.51% and a negative return on equity of 23.92%.

About Precision Optics

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.