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

Key Points

• Short interest surged 478.9% to 40,488 shares as of September 30, representing 0.4% of Precision Optics’ outstanding shares and 0.4 days of average trading volume.
• Precision Optics reported quarterly EPS of -$0.01, beating estimates of -$0.06, while revenue of $8.77 million exceeded the $7.10 million consensus estimate.
• Analyst sentiment remains bearish, with the stock carrying a consensus “Sell” rating, although Needham Investment Management increased its stake by 2.9% to approximately 9.33% of the company.

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

Precision Optics Trading Down 1.7%

POCI opened at $4.58 on Friday. The firm has a market capitalization of $50.26 million, a PE ratio of -9.96 and a beta of 0.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.28 and a quick ratio of 1.84. Precision Optics has a fifty-two week low of $3.55 and a fifty-two week high of $6.15. The company's 50-day moving average is $4.38 and its 200 day moving average is $4.64.

Precision Optics (NASDAQ:POCI - Get Free Report) last released its quarterly earnings results on Monday, September 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.05. Precision Optics had a negative return on equity of 23.92% and a negative net margin of 11.51%. The business had revenue of $8.77 million during the quarter, compared to the consensus estimate of $7.10 million.

Wall Street Analyst Weigh In

Several research analysts have weighed in on POCI shares. Wall Street Zen upgraded Precision Optics to a "hold" rating in a research report on Saturday, October 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Precision Optics in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Precision Optics stock. Needham Investment Management LLC increased its stake in shares of Precision Optics Corp. (NASDAQ:POCI - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 720,000 shares of the company's stock after purchasing an additional 20,000 shares during the quarter. Needham Investment Management LLC owned approximately 9.33% of Precision Optics worth $3,013,000 as of its most recent SEC filing. 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.

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