Short Interest in Cepton, Inc. (NASDAQ:CPTN) Drops By 8.0%

Cepton, Inc. (NASDAQ:CPTN) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 63,100 shares, a decrease of 8.0% from the August 31st total of 68,600 shares. Based on an average daily trading volume, of 47,800 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Westpark Capital restated a “hold” rating on shares of Cepton in a report on Wednesday, August 14th.

Cepton Stock Performance

NASDAQ:CPTN remained flat at $3.12 during trading hours on Tuesday. The company’s stock had a trading volume of 69,964 shares, compared to its average volume of 31,509. The stock has a market capitalization of $49.67 million, a PE ratio of -1.22 and a beta of 0.08. Cepton has a 52-week low of $2.38 and a 52-week high of $5.20. The company’s fifty day simple moving average is $3.00 and its 200 day simple moving average is $2.85.

Cepton (NASDAQ:CPTN) last released its earnings results on Monday, August 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.26. The business had revenue of $10.43 million during the quarter, compared to the consensus estimate of $11.00 million.

About Cepton

Cepton, Inc provides lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications in the United States, Japan, China, and internationally. The company offers autograde lidar sensors, including Cepton Ultra, a slimmest lidar with MagnoSteer technology and proprietary ASIC chipset, enabling a combination of 300-meter range at 10% reflectivity and 0.05° resolution; 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; and Nova, an extremely-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.