Cepton, Inc. (NASDAQ:CPTN) Sees Large Drop in Short Interest

Cepton, Inc. (NASDAQ:CPTN) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 57,500 shares, a drop of 8.9% from the September 15th total of 63,100 shares. Based on an average trading volume of 56,400 shares, the short-interest ratio is presently 1.0 days. Currently, 0.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Westpark Capital reissued a “hold” rating on shares of Cepton in a report on Wednesday, August 14th.

Cepton Stock Performance

CPTN stock remained flat at $3.16 during midday trading on Thursday. 4,451 shares of the company traded hands, compared to its average volume of 32,324. Cepton has a 52 week low of $2.38 and a 52 week high of $5.20. The company’s fifty day moving average is $3.08 and its two-hundred day moving average is $2.89. The firm has a market capitalization of $50.31 million, a price-to-earnings ratio of -1.23 and a beta of 0.09.

Cepton (NASDAQ:CPTN) last posted its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.26. The firm had revenue of $10.43 million for the quarter, compared to analysts’ expectations of $11.00 million.

Cepton Company Profile

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.