Precision Optics Co., Inc. (NASDAQ:POCI) Sees Large Decline in Short Interest

Precision Optics Co., Inc. (NASDAQ:POCI) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 17,200 shares, a drop of 12.7% from the January 31st total of 19,700 shares. Based on an average daily trading volume, of 10,500 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.4% of the company’s stock are sold short.

Precision Optics Stock Up 6.2 %

Shares of NASDAQ:POCI traded up $0.28 during midday trading on Thursday, reaching $4.79. The company’s stock had a trading volume of 12,010 shares, compared to its average volume of 11,163. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $4.85 and a 200-day moving average of $4.93. The firm has a market capitalization of $36.57 million, a P/E ratio of -7.48 and a beta of 0.28. Precision Optics has a 12-month low of $3.47 and a 12-month high of $6.90.

Precision Optics (NASDAQ:POCI) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.15) earnings per share (EPS) for the quarter. Precision Optics had a negative net margin of 21.46% and a negative return on equity of 39.17%. The company had revenue of $4.53 million for the quarter.

Institutional Investors Weigh In On Precision Optics

Institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in shares of Precision Optics during the fourth quarter valued at $93,000. Geode Capital Management LLC increased its holdings in Precision Optics by 95.5% in the 3rd quarter. Geode Capital Management LLC now owns 52,268 shares of the company’s stock worth $292,000 after acquiring an additional 25,530 shares in the last quarter. WealthTrust Axiom LLC lifted its stake in shares of Precision Optics by 3.9% during the 4th quarter. WealthTrust Axiom LLC now owns 247,280 shares of the company’s stock valued at $1,192,000 after buying an additional 9,366 shares in the last quarter. Finally, Needham Investment Management LLC boosted its stake in shares of Precision Optics by 6.9% in the fourth quarter. Needham Investment Management LLC now owns 427,500 shares of the company’s stock worth $2,061,000 after acquiring an additional 27,500 shares during the period. Institutional investors own 13.71% of the company’s stock.

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.