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

Precision Optics Co., Inc. (NASDAQ:POCI) saw a significant drop in short interest in 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 volume of 17,600 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Precision Optics

An institutional investor recently raised its position in Precision Optics stock. Needham Investment Management LLC boosted its position in shares of Precision Optics Co., Inc. (NASDAQ:POCI) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company’s stock after acquiring an additional 33,283 shares during the period. Needham Investment Management LLC owned 6.30% of Precision Optics worth $2,232,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.71% of the company’s stock.

Precision Optics Stock Performance

Shares of NASDAQ POCI traded up $0.50 during midday trading on Friday, reaching $5.23. 20,970 shares of the stock were exchanged, compared to its average volume of 9,351. Precision Optics has a 12 month low of $3.47 and a 12 month high of $6.90. The business has a 50-day simple moving average of $4.82 and a two-hundred day simple moving average of $5.55. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19.

Precision Optics (NASDAQ:POCI) last released its quarterly earnings data on Monday, September 30th. The company reported ($0.23) earnings per share for the quarter. Precision Optics had a negative return on equity of 26.62% and a negative net margin of 15.45%. The firm had revenue of $4.72 million for 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.