Precision Optics Corp. (NASDAQ:POCI) Sees Significant Decrease in Short Interest

Precision Optics Corp. (NASDAQ:POCI) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 12,121 shares, a decrease of 59.0% from the May 31st total of 29,532 shares. Based on an average trading volume of 48,253 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Precision Optics

Several hedge funds and other institutional investors have recently modified their holdings of POCI. Jane Street Group LLC acquired a new stake in Precision Optics in the 4th quarter valued at $48,000. DRW Securities LLC acquired a new position in Precision Optics during the fourth quarter worth $94,000. Geode Capital Management LLC lifted its stake in shares of Precision Optics by 3.4% in the fourth 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 bought a new position in shares of Precision Optics in the third quarter valued at $49,000. Finally, Needham Investment Management LLC grew its holdings in shares of Precision Optics by 2.9% during the fourth quarter. Needham Investment Management LLC now owns 720,000 shares of the company’s stock valued at $3,013,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 13.71% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Precision Optics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Precision Optics has an average rating of “Sell”.

Precision Optics Price Performance

Shares of NASDAQ POCI opened at $5.19 on Wednesday. The firm’s 50-day moving average price is $5.07 and its 200-day moving average price is $4.67. Precision Optics has a 1-year low of $3.55 and a 1-year high of $6.15. The firm has a market capitalization of $56.80 million, a P/E ratio of -8.07 and a beta of 0.32. The company has a current ratio of 2.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

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

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.