JPMorgan Chase & Co. Begins Coverage on Cepton (NASDAQ:CPTN)

JPMorgan Chase & Co. initiated coverage on shares of Cepton (NASDAQ:CPTNGet Rating) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a neutral rating on the stock.

CPTN has been the topic of several other reports. Royal Bank of Canada decreased their target price on shares of Cepton from $4.00 to $2.00 and set a sector perform rating on the stock in a report on Tuesday, August 9th. Craig Hallum decreased their target price on shares of Cepton from $10.00 to $3.75 in a report on Tuesday, August 9th. Finally, Northland Securities began coverage on shares of Cepton in a report on Wednesday, June 29th. They issued an outperform rating and a $5.50 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $8.31.

Cepton Price Performance

NASDAQ:CPTN opened at $1.69 on Tuesday. Cepton has a 52 week low of $1.01 and a 52 week high of $80.16. The firm’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $2.44. The company has a quick ratio of 6.70, a current ratio of 7.19 and a debt-to-equity ratio of 0.35.

Cepton (NASDAQ:CPTNGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $2.56 million for the quarter, compared to the consensus estimate of $2.20 million. On average, analysts forecast that Cepton will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Cepton

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in shares of Cepton during the 1st quarter valued at approximately $26,000. Jane Street Group LLC bought a new stake in shares of Cepton during the 1st quarter valued at approximately $47,000. Bank of New York Mellon Corp bought a new stake in shares of Cepton during the 1st quarter valued at approximately $53,000. Royal Bank of Canada bought a new stake in shares of Cepton during the 1st quarter valued at approximately $54,000. Finally, Rhumbline Advisers acquired a new stake in Cepton during the 2nd quarter worth approximately $27,000. 3.78% of the stock is owned by institutional investors.

Cepton Company Profile

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Cepton, Inc provides lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications in the United States, Japan, and internationally. The company offers auto grade lidar sensors, including Vista-X, a compact lidar solution with a range of up to 200m for long-range applications in ADAS L2+/L3, AV L4/L5, and suitable for smart infrastructure applications; Vista-T, a lidar solution with a range of up to 300m for ultra-long-range applications in ADAS L2+/L3 and AV L4/L5; and Nova, an ultra-small form factor lidar solution with a range of up to 30m for near-range applications in ADAS L2+/L3, AV L4/L5, and suitable for smart infrastructure applications.

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