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

Precision Optics Co., Inc. (NASDAQ:POCI) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,800 shares, a decline of 23.8% from the October 15th total of 6,300 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 17,600 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Precision Optics

A hedge fund recently raised its stake in Precision Optics stock. Geode Capital Management LLC boosted its holdings in Precision Optics Co., Inc. (NASDAQ:POCI) by 95.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,268 shares of the company’s stock after purchasing an additional 25,530 shares during the quarter. Geode Capital Management LLC owned about 0.82% of Precision Optics worth $292,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.71% of the company’s stock.

Precision Optics Stock Up 10.6 %

Shares of NASDAQ:POCI traded up $0.50 during trading on Friday, hitting $5.23. 20,970 shares of the company were exchanged, compared to its average volume of 15,211. The stock has a market capitalization of $33.21 million, a P/E ratio of -8.44 and a beta of 0.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 0.87. Precision Optics has a 12-month low of $3.47 and a 12-month high of $6.90. The firm’s 50 day moving average price is $4.82 and its 200-day moving average price is $5.55.

Precision Optics (NASDAQ:POCI) last released its quarterly earnings results on Monday, September 30th. The company reported ($0.23) EPS for the quarter. Precision Optics had a negative net margin of 20.01% and a negative return on equity of 34.90%. The business had revenue of $4.72 million during the quarter.

About Precision Optics

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.