Short Interest in Precision Optics Corp. (NASDAQ:POCI) Drops By 20.2%

Precision Optics Corp. (NASDAQ:POCI) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 21,176 shares, a drop of 20.2% from the March 31st total of 26,535 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 43,390 shares, the short-interest ratio is presently 0.5 days.

Precision Optics Trading Up 0.7%

NASDAQ:POCI opened at $4.26 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. Precision Optics has a 1-year low of $3.55 and a 1-year high of $6.04. The firm has a market capitalization of $32.93 million, a price-to-earnings ratio of -4.63 and a beta of 0.23. The business’s 50-day moving average price is $4.29 and its two-hundred day moving average price is $4.42.

Precision Optics (NASDAQ:POCI) last posted its earnings results on Tuesday, February 17th. The company reported ($0.23) earnings per share (EPS) for the quarter. Precision Optics had a negative return on equity of 60.56% and a negative net margin of 28.33%.The company had revenue of $7.37 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Precision Optics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Precision Optics currently has an average rating of “Sell”.

Hedge Funds Weigh In On Precision Optics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of Precision Optics in the 4th quarter valued at $48,000. Citadel Advisors LLC acquired a new position in Precision Optics in the third quarter valued at about $49,000. DRW Securities LLC acquired a new position in Precision Optics in the fourth quarter valued at about $94,000. Geode Capital Management LLC increased its holdings in shares of Precision Optics by 3.4% in 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 in the last quarter. Finally, WealthTrust Axiom LLC lifted its holdings in shares of Precision Optics by 2.7% during the 4th quarter. WealthTrust Axiom LLC now owns 231,808 shares of the company’s stock valued at $970,000 after purchasing an additional 6,158 shares in the last quarter. 13.71% of the stock is 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.