Precision Optics (NASDAQ:POCI) Stock Price Down 2.1% – Here’s Why

Precision Optics Corp. (NASDAQ:POCI) shares were down 2.1% on Wednesday . The stock traded as low as $4.15 and last traded at $4.15. 32,700 shares were traded during trading, a decline of 22% from the average session volume of 41,663 shares. The stock had previously closed at $4.24.

Analyst Upgrades and Downgrades

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

Precision Optics Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 2.10. The business has a 50-day simple moving average of $4.91 and a 200 day simple moving average of $4.73. The firm has a market cap of $45.42 million, a P/E ratio of -6.59 and a beta of 0.34.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in POCI. Citadel Advisors LLC bought a new position in Precision Optics in the 3rd quarter worth $49,000. Jane Street Group LLC purchased a new stake in shares of Precision Optics in the 4th quarter worth about $48,000. DRW Securities LLC bought a new stake in shares of Precision Optics during the 4th quarter valued at about $94,000. Geode Capital Management LLC boosted its stake in shares of Precision Optics by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 58,436 shares of the company’s stock valued at $245,000 after purchasing an additional 1,926 shares in the last quarter. Finally, WealthTrust Axiom LLC boosted its stake 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 hedge funds and other institutional investors.

Precision Optics Company Profile

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.