Precision Optics Corp. (NASDAQ:POCI – Get Free Report)’s stock price dropped 2.1% on Wednesday . The company traded as low as $4.15 and last traded at $4.15. Approximately 32,700 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 41,663 shares. The stock had previously closed at $4.24.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised Precision Optics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.
Check Out Our Latest Analysis on Precision Optics
Precision Optics Stock Performance
Precision Optics (NASDAQ:POCI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.01) earnings per share for the quarter. Precision Optics had a negative return on equity of 37.47% and a negative net margin of 17.03%.The business had revenue of $8.71 million during the quarter.
Institutional Investors Weigh In On Precision Optics
Several institutional investors have recently bought and sold shares of POCI. Citadel Advisors LLC purchased a new position in Precision Optics in the 3rd quarter worth approximately $49,000. Jane Street Group LLC purchased a new stake in shares of Precision Optics during the fourth quarter valued at approximately $48,000. DRW Securities LLC purchased a new stake in shares of Precision Optics during the fourth quarter valued at approximately $94,000. Geode Capital Management LLC grew its holdings in shares of Precision Optics by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 58,436 shares of the company’s stock worth $245,000 after purchasing an additional 1,926 shares during the last quarter. Finally, WealthTrust Axiom LLC grew its holdings in shares of Precision Optics by 2.7% in the fourth quarter. WealthTrust Axiom LLC now owns 231,808 shares of the company’s stock worth $970,000 after purchasing an additional 6,158 shares during the last quarter. 13.71% of the stock is currently owned by hedge funds and other institutional investors.
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.
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