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

Precision Optics Corp. (NASDAQ:POCI) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 40,488 shares, an increase of 478.9% from the September 15th total of 6,994 shares. Based on an average trading volume of 111,412 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precision Optics in a research note on Wednesday, September 2nd. Wall Street Zen upgraded shares of Precision Optics to a “hold” rating in a research report on Saturday, October 3rd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Precision Optics currently has a consensus rating of “Sell”.

Precision Optics Stock Down 1.7%

Precision Optics stock opened at $4.58 on Friday. Precision Optics has a twelve month low of $3.55 and a twelve month high of $6.15. The firm has a market capitalization of $50.26 million, a P/E ratio of -9.96 and a beta of 0.34. The company has a current ratio of 2.28, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $4.64.

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. Precision Optics had a negative net margin of 11.51% and a negative return on equity of 23.92%. The firm had revenue of $8.77 million during the quarter, compared to the consensus estimate of $7.10 million.

Institutional Investors Weigh In On Precision Optics

A hedge fund recently raised its stake in Precision Optics stock. WealthTrust Axiom LLC raised its stake in Precision Optics Corp. (NASDAQ:POCI) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 231,808 shares of the company’s stock after purchasing an additional 6,158 shares during the quarter. WealthTrust Axiom LLC owned 3.00% of Precision Optics worth $970,000 at the end of the most recent reporting period. Institutional investors own 13.71% of the company’s stock.

Precision Optics Company Profile

Precision Optics Corporation, Inc (NASDAQ: POCI) develops and manufactures advanced optical systems, instruments and components, with a primary focus on medical applications. The company works with medical-device manufacturers and other original equipment manufacturers to design and produce specialized optical solutions for visualization, imaging and minimally invasive procedures.

Its product offerings include rigid and flexible endoscopes, three-dimensional surgical visualization systems, laparoscopic and arthroscopic optics, fluorescence imaging technologies and custom optical assemblies.