Precision Optics Corp. (NASDAQ:POCI) Short Interest Down 59.0% in June

Precision Optics Corp. (NASDAQ:POCI) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 12,121 shares, a drop of 59.0% from the May 31st total of 29,532 shares. Based on an average trading volume of 48,253 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Precision Optics Stock Performance

Shares of POCI stock traded down $0.03 during trading hours on Tuesday, reaching $5.10. 30,120 shares of the company traded hands, compared to its average volume of 37,084. Precision Optics has a 12-month low of $3.55 and a 12-month high of $6.15. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.10 and a quick ratio of 1.74. The company has a market cap of $55.79 million, a P/E ratio of -8.10 and a beta of 0.31. The firm has a 50-day moving average price of $5.05 and a 200 day moving average price of $4.67.

Precision Optics (NASDAQ:POCI) last released its earnings results on Wednesday, May 13th. The company reported ($0.01) earnings per share (EPS) for the quarter. Precision Optics had a negative return on equity of 37.47% and a negative net margin of 17.03%.The firm had revenue of $8.71 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Precision Optics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. DRW Securities LLC purchased a new stake in Precision Optics in the 4th quarter worth $94,000. Needham Investment Management LLC boosted its stake in shares of Precision Optics by 2.9% in the fourth quarter. Needham Investment Management LLC now owns 720,000 shares of the company’s stock worth $3,013,000 after acquiring an additional 20,000 shares during the period. Jane Street Group LLC purchased a new stake in shares of Precision Optics during the fourth quarter worth about $48,000. Citadel Advisors LLC bought a new stake in Precision Optics during the 3rd quarter valued at approximately $49,000. Finally, WealthTrust Axiom LLC raised its stake in Precision Optics by 2.7% during the 4th quarter. WealthTrust Axiom LLC now owns 231,808 shares of the company’s stock valued at $970,000 after purchasing an additional 6,158 shares during the period. Hedge funds and other institutional investors own 13.71% of the company’s stock.

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.