Precision Optics Corp. (NASDAQ:POCI) Short Interest Down 59.0% in June

Precision Optics Corp. (NASDAQ:POCI) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 12,121 shares, a decline of 59.0% from the May 31st total of 29,532 shares. Based on an average trading volume of 48,253 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Precision Optics Stock Performance

Shares of POCI stock traded down $0.06 during midday trading on Monday, hitting $5.24. 14,262 shares of the company were exchanged, compared to its average volume of 36,949. Precision Optics has a 52 week low of $3.55 and a 52 week high of $6.15. The firm has a market capitalization of $57.27 million, a P/E ratio of -8.31 and a beta of 0.31. The firm’s 50 day moving average price is $5.04 and its two-hundred day moving average price is $4.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 2.10.

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

Institutional Trading of Precision Optics

Several institutional investors have recently added to or reduced their stakes in POCI. Citadel Advisors LLC bought a new stake in shares of Precision Optics in the third quarter valued at about $49,000. Geode Capital Management LLC increased its position in Precision Optics by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 58,436 shares of the company’s stock worth $245,000 after acquiring an additional 1,926 shares during the period. DRW Securities LLC bought a new position in Precision Optics during the fourth quarter worth about $94,000. Jane Street Group LLC acquired a new stake in Precision Optics in the 4th quarter worth about $48,000. Finally, WealthTrust Axiom LLC raised its stake in Precision Optics by 2.7% in the 4th quarter. WealthTrust Axiom LLC now owns 231,808 shares of the company’s stock worth $970,000 after purchasing an additional 6,158 shares in the last quarter. 13.71% of the stock is currently owned by institutional investors.

About Precision Optics

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.