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

Precision Optics Corp. (NASDAQ:POCI) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 10,912 shares, a decline of 41.2% from the August 15th total of 18,570 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 39,307 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Precision Optics in a research report 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, According to MarketBeat, Precision Optics has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Precision Optics stock. WealthTrust Axiom LLC raised its position in shares of Precision Optics Corp. (NASDAQ:POCI) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,808 shares of the company’s stock after purchasing an additional 6,158 shares during the period. WealthTrust Axiom LLC owned about 3.00% of Precision Optics worth $970,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 13.71% of the company’s stock.

Precision Optics Trading Down 1.0%

Precision Optics stock traded down $0.04 during trading hours on Wednesday, hitting $4.17. The company had a trading volume of 24,034 shares, compared to its average volume of 37,767. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 2.10. The firm has a market cap of $45.62 million, a P/E ratio of -6.62 and a beta of 0.32. The company has a 50-day moving average price of $4.39 and a two-hundred day moving average price of $4.62. Precision Optics has a 1 year low of $3.55 and a 1 year high of $6.15.

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.