PicoCELA Inc. (NASDAQ:PCLA) Sees Significant Drop in Short Interest

PicoCELA Inc. (NASDAQ:PCLA) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totaling 36,037 shares, a decline of 83.5% from the September 15th total of 217,931 shares. Based on an average daily volume of 52,427 shares, the days-to-cover ratio is presently 0.7 days. Currently, 90.1% of the company’s stock are sold short.

PicoCELA Stock Down 8.3%

Shares of NASDAQ PCLA traded down $0.55 during mid-day trading on Monday, hitting $6.06. The company had a trading volume of 24,596 shares, compared to its average volume of 681,893. The business’s 50-day simple moving average is $7.01 and its 200-day simple moving average is $5.14. PicoCELA has a 12 month low of $1.35 and a 12 month high of $19.61.

PicoCELA (NASDAQ:PCLA) last released its quarterly earnings data on Friday, September 18th. The company reported ($3.30) earnings per share (EPS) for the quarter. The firm had revenue of $1.16 million during the quarter.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of PicoCELA from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 24th. Wall Street Zen upgraded shares of PicoCELA to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, PicoCELA presently has a consensus rating of “Sell”.

About PicoCELA

PicoCELA, Inc (NASDAQ: PCLA) is a Japan-based wireless communications technology company that develops solutions for building and managing wireless networks. Its technology is designed to extend wireless coverage and improve connectivity in locations where conventional wired network infrastructure may be difficult or expensive to deploy.

The company’s offerings include wireless access points and related network products, as well as software and cloud-based tools for configuring, monitoring and managing wireless infrastructure.