Cepton (NASDAQ:CPTN) Posts Earnings Results, Hits Estimates

Cepton (NASDAQ:CPTN – Get Rating) posted its quarterly earnings data on Tuesday. The company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10), Yahoo Finance reports. The company had revenue of $1.58 million during the quarter, compared to analyst estimates of $2.35 million. During the same period in the prior year, the firm earned ($0.33) earnings per share. Cepton updated its FY 2023 guidance to EPS.

Cepton Price Performance

Cepton stock opened at $0.54 on Thursday. The stock’s 50 day moving average is $1.10 and its 200 day moving average is $1.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.33 and a quick ratio of 4.89. The firm has a market cap of $84.46 million, a P/E ratio of 2.25 and a beta of -0.18. Cepton has a one year low of $0.40 and a one year high of $4.81.

Hedge Funds Weigh In On Cepton

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in Cepton in the first quarter valued at approximately $53,000. BlackRock Inc. acquired a new position in Cepton in the first quarter valued at approximately $1,178,000. Vanguard Group Inc. acquired a new position in Cepton in the first quarter valued at approximately $1,058,000. Charles Schwab Investment Management Inc. acquired a new position in Cepton in the first quarter valued at approximately $508,000. Finally, Northern Trust Corp acquired a new position in Cepton in the first quarter valued at approximately $159,000. 3.78% of the stock is owned by institutional investors and hedge funds.

About Cepton

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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.