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

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

Precision Optics Stock Performance

POCI stock traded up $0.50 during midday trading on Friday, hitting $5.23. 20,970 shares of the stock traded hands, compared to its average volume of 15,211. The firm has a market cap 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. The stock’s fifty day simple moving average is $4.82 and its 200-day simple moving average is $5.55. Precision Optics has a 1-year low of $3.47 and a 1-year high of $6.90.

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

Hedge Funds Weigh In On Precision Optics

An institutional investor recently raised its position in Precision Optics stock. Geode Capital Management LLC lifted its holdings in Precision Optics Co., Inc. (NASDAQ:POCI) by 95.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,268 shares of the company’s stock after buying an additional 25,530 shares during the period. Geode Capital Management LLC owned approximately 0.82% of Precision Optics worth $292,000 as of its most recent filing with the Securities and Exchange Commission. 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.