Cepton (NASDAQ:CPTN) Releases Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Cepton (NASDAQ:CPTN) announced its quarterly earnings results on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.26, Zacks reports. The firm had revenue of $10.43 million during the quarter, compared to analysts’ expectations of $11.00 million.

Cepton Stock Performance

Cepton stock traded up $0.01 during midday trading on Wednesday, hitting $3.04. 3,027 shares of the company’s stock were exchanged, compared to its average volume of 33,264. The company has a market cap of $48.40 million, a P/E ratio of -1.18 and a beta of 0.07. The stock has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $2.74. Cepton has a 52-week low of $2.38 and a 52-week high of $6.50.

Analysts Set New Price Targets

Separately, Westpark Capital reiterated a “hold” rating on shares of Cepton in a research note on Wednesday.

Cepton Company Profile

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.