Short Interest in Precision Optics Corp. (NASDAQ:POCI) Drops By 41.2%

Precision Optics Corp. (NASDAQ:POCI) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 10,912 shares, a decrease of 41.2% from the August 15th total of 18,570 shares. Based on an average daily volume of 39,307 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Precision Optics

A hedge fund recently raised its stake in Precision Optics stock. WealthTrust Axiom LLC increased its position in shares of Precision Optics Corp. (NASDAQ:POCI) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,808 shares of the company’s stock after purchasing an additional 6,158 shares during the period. WealthTrust Axiom LLC owned 3.00% of Precision Optics worth $970,000 at the end of the most recent quarter. 13.71% of the stock is owned by institutional investors and hedge funds.

Precision Optics Trading Up 0.0%

Shares of POCI traded up $0.00 during mid-day trading on Friday, reaching $4.36. The stock had a trading volume of 22,966 shares, compared to its average volume of 37,625. Precision Optics has a 52-week low of $3.55 and a 52-week high of $6.15. The firm has a market cap of $47.73 million, a price-to-earnings ratio of -6.92 and a beta of 0.32. The business’s fifty day moving average is $4.36 and its 200 day moving average is $4.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.10 and a quick ratio of 1.74.

Wall Street Analysts Forecast Growth

POCI has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Precision Optics in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Precision Optics to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Precision Optics Company Profile

Precision Optics Corporation, Inc (NASDAQ: POCI) designs and manufactures advanced optical and imaging systems, primarily for the medical device market. The company develops products used in minimally invasive surgery, including endoscopes, surgical cameras, and specialized visualization systems that help physicians view internal anatomy during diagnostic and therapeutic procedures.

Its product portfolio includes reusable and single-use endoscopes, three-dimensional imaging systems, fluorescence imaging technologies, and custom optical components and assemblies.