Short Interest in Cepton, Inc. (NASDAQ:CPTN) Declines By 54.8%

Cepton, Inc. (NASDAQ:CPTN) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 39,600 shares, a decline of 54.8% from the March 31st total of 87,600 shares. Based on an average trading volume of 27,800 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.8% of the shares of the company are short sold.

Cepton Stock Performance

Shares of CPTN stock traded down $0.05 during trading hours on Friday, reaching $2.95. The company had a trading volume of 10,336 shares, compared to its average volume of 27,110. The business has a fifty day moving average price of $2.77 and a 200-day moving average price of $3.08. Cepton has a one year low of $2.38 and a one year high of $8.90. The firm has a market cap of $46.96 million, a PE ratio of -0.96 and a beta of 0.14.

Cepton (NASDAQ:CPTN) last announced its earnings results on Thursday, March 28th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.03. The business had revenue of $4.95 million for the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts forecast that Cepton will post -2.17 EPS for the current year.

Institutional Trading of Cepton

A hedge fund recently bought a new stake in Cepton stock. Trellus Management Company LLC bought a new stake in shares of Cepton, Inc. (NASDAQ:CPTN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 57,835 shares of the company’s stock, valued at approximately $220,000. Trellus Management Company LLC owned 0.37% of Cepton at the end of the most recent quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

About Cepton

Cepton, Inc provides lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications in the United States, Japan, China, and internationally. The company offers autograde lidar sensors, including Cepton Ultra, a slimmest lidar with MagnoSteer technology and proprietary ASIC chipset, enabling a combination of 300-meter range at 10% reflectivity and 0.05° resolution; Vista-X, a compact lidar solution with a range of up to 200m for long-range applications in ADAS L2+/L3, AV L4/L5, and suitable for smart infrastructure applications; and Nova, an extremely-small form factor lidar solution with a range of up to 30m for near-range applications in ADAS L2+/L3, AV L4/L5, and suitable for smart infrastructure applications.